Many rims seem to have this piece of plastic around one of the spokes. It seems to be a zip tie fastening the rim in place.
But what is its exact purpose? If it is required to fasten the rim in place, why don’t all wheels have it?
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The wheel trim that it is holding on is likely damaged, so a previous owner has added the cable/zip tie to stop it falling off. The damage may not be visible from the outside. There are plastic tabs on the inside that are pressed against the rim by a metal ring. One of the plastic tabs may have broken making it a bit loose.
It is possible that someone has added it to make it a little more difficult for someone to steal them, but that is less likely.
These cable ties are usually found on the cheaper plastic wheel trims as they can fly off. Some of the more expensive ones suffer from the springs and tabs getting bent when owners force them.
Seen many on the side of the road - often in winter as the snow can help knock them off or build up behind them.
The cable ties are also used to stop the wheel trims rattling, but then you might see 2 or 3 fitted.