As Felix 808 says, it's just a rubber cap. Only purpose is to keep dirt out of the bleeder valve. Not important to normal brake operation, but I'd replace them as allowing dirt into the system can cause big problems. Should be able to find replacements at any auto parts store - ask for "brake bleeder caps".
Edit: The problem with introducing dirt into the system only pops up when you bleed the brakes and your caps are not in that bad of shape. It's not like you need to run out today and get them. Just make sure the bleeder valve tip is clean (a few swipes with a small wire brush should remove any dust that may have crept past the cap) when you replace the caps.
Last edited by SouthArk370Z; 11-21-2012 at 11:56 PM.
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