Contact Ring
WARNING: This page does not describe the selected car, but rather 10 other vehicles, including the 2001 BMW Z3, 2001 BMW M3, 2001 BMW M Roadster, 2001 BMW M Coupe, and 2001 BMW 330xi. However, it is still accessible from the selected car via links, so may be relevant.
Contact ring (mounted on bottom of steering wheel) is a continuous loop of wire ribbon that forms an electrical circuit between the steering wheel and steering column. This wire ribbon winds and unwinds to ensure electrical contact when the steering wheel is turned.