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I was checking why there was noise coming from my passenger side brakes today, removed the inside brake pad and this clip fell out. I couldn't figure out where it goes on the brake caliper, since there was already a retaining clip on the top and bottom of the pad. Any idea what is/where it goes? Is it necessary/important?

Pad wear squealer? Clips onto the pad.

Ah okay, I guess these are the ones that come from the stock pad, since the remsa pads I put in had different indicators. Not sure how I missed this the first time