From 3.8Wiki
On the 1994-1998 V6 Mustangs, there are two seperate senders for the coolant reading you see on the gauge and the reading the ECU receives. On 1999-2004, there is only one sensor and it sends the signal to the ECU to be relayed to the electronical gauges. This is called the Coolant Temperature Sensor.
Note that it is located to the left of the thermostat on the manifold and has a round connector with one square edge.
>>> Make sure the cooling system is cool before you continue <<<
Remove the radiator cap or open the air bleeder bolt to relieve pressure.
Locate the coolant temperature sensor.
Disconnect the pigtail. Be careful not to break the locking tabs.
Unscrew the unit and replace. Remember to apply teflon tape to the threads if it is not present on the new sensor.
--Kuplex 12:49, 26 June 2007 (CDT)