If you indeed talking about that oval shapped punchout with the grab handle, just reach down with your fingers and pull it out.

You will see the trailer hitch mounting area, where you too can install the $2500 trailer 2" hitch if you are so inclined. See threads for that project.

Now, if you are referring to the shaps under the vehicle, that looks like a school crossing guard and stop sign to me.....

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2005 X5 4.8IS
The Blue ones are always FASTER....

Current Garage:
2005 X5 4.8is
2002 M5 TiSilver
2003 525iT
1998 528i
Former Garage Stable Highlights
2004 325XiT Sport
1973 De Tomaso Pantera, L Model
1970 Dodge Challenger T/A 4 sp Alpine White
1970 Dodge Challenger T/A 4 sp GoManGo Green
1971 Dart Sport, “Dart Light” package
1969 Road Runner 383
1968 Ply Barracuda 340S FB Sea-foam Green