1996 Ranger 4.0l with automatic should have a warm idle of about 750-800, in Park, 850 in gear or with AC on
Manual trans idle is 650 in neutral
When starting cold the idle should be 1,100-1,200rpm, this is based on outside temp so could be higher if it is cold, 40degF
Idle should start dropping as engine and coolant warms up, takes about 5 minutes if outside temp is warmer, 8 minutes if colder.
When starting cold don't touch the gas pedal, just start engine.
RPMs should go up to 1,500 or higher for a second and then drop down to 1,100-1,200.
That's the IAC Valve opening all the way for starting then closing to set cold idle.
Then over the next 5 minutes the idle should start dropping down
Does that happen?