What year is the truck? If it's older, it's probably a manual choke control for the carburetor. You pull it out to "richen" the mixture in the carb to start the car when it's cold. When the engine is warm you push it back in. You shouldn't leave it pulled out all the time as your engine will run rich, resulting in fouled plugs and poor fuel economy. Conversely, leaving it in all the time may make the vehicle difficult to start.
If you take your air cleaner cover off and look down the throat of the carb you should be able to see the choke flap opening and closing as an assistant moves the lever.
Cheers, Geoff Glave Vancouver, Canada