Well, it's F*cked whatever it is...lol!
Actually, that is the canister that goes on the side of the block under the intake and is part of the PCV system...looks like you need to replace it, but they are usually easy to find and clean up...
Just get one from a Junkyard and run some gasoline through it and let it sit overnight...or you might try some other chemicals that break down oil goop...like that parts cleaner stuff...
EDIT: BTW, that is an important part for your engine...without it your crankcase builds up pressure with no place to go...so remove the rivets with a drill if you are using that block (which may or may not be a good idea if they ran it long without that) and drop in a replacement then hook up the hoses to the PCV (positive crankcase ventillation) valve and then to the intake or TB...