As in the kill button? there is a black clip that fits behind the red button and is suppose to release if you fall out and stop the motor. It is on a long cord. This red button is the one you mean?
Lookin for a little help. I have an 88 Evenrude 20hp and the throttle is tight as you know what.The throttle arm bends before the motor housing if that helps. Need to loosen it up a little if possible. Any help would be great.