Judging by its appearance, I'd say its function is collecting dirt.
Is it an original feature or something a PO has put there?
I'd guess it's a clip for an electric cable so as to keep it from being chewed by the chain. As for what cable I don't have a clue. Neutral light possibly? Or maybe a brake light switch?
Well, I didn't make my answer definitive above, but I'll now say (almost) unequivocally that the clip was for the battery breather hose. You can ditch it.
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