What is this sensor? (Picture attached)

A sensor that has a magnet moving past almost certainly is a hall effect sensor. I would think that they are very reliable and would be looking for loose connections rather than questioning the sensor. Or you can hook a batter powered Arduino to it and take readings and see what it looks like. If this is a car part, a messed up sensor would be easy enough to fix as the part is certainly available. I bet it isn't that easy.