As others said, it looks like the canister holder. On MY03, it looks different, but in the same place. I was going to take mine off, until I realized it was a perfect place to mount the Stebel airhorn for the bike. So mine does alternate duty now.
I looked at the bike this morning. I still have the hoses that connect to the throttle bodies but the end has been plugged. There are four hoses that come out of the fuel pump. Two are gas and two are vapor/vent. Both of the vapor/vent lines travel down the right side of the frame and terminate just below the rear brake lever. So it appears that the canister was removed and the line going to the canister is now just an additional vent line.
I bought this bike new back in 2008. I had some ride quality issues back then. In automotive terms it is called "trailer hitching" where the vehicle runs very lean and feels like you are pulling a trailer with constant slight speed changes. The dealer worked on the bike and improved the condition. I guess this is one of the modifications they performed.