This is the F-704 Cap strip that is on both sides of the fuselage just to the outside of your leg. It covers up the F-704D center section support that runs up from the Wing spar. This is a perfect place for a Swival Eye ball light. Theye are 1.5" OD and about .5" in depth. To make them removable since the strip is riveted in, I cut a couple round plates out of .050 alum. I then cut a hole in the cap strips the size of the eyeball light. I then mounted the lights to the round plates I made. Now I can remove the lights with ease.
Spun the plate on the drill press so I got it perfectly round.