Ok so I go out and start driving and I notice my gas pedal doesn't work. There is no pressure when I press on it, it feels as if its not connecting. I looked at it and there might be a problem with the small cable it is attached too. Anyone know what's wrong?

 

Has the pedal become detached from the throttle cable? Or has the throttle cable become detached from the throttle body? Also check the throttle return spring. Check those, otherwise it could be the cruise control, however unlikely.

 

If it's 05+ thoes are drive-by-wire, so if it is then you'd have no throttle cable. So I'm left to ask; Is it an 05+?

Edit: You noted that you inspected a cable, so I'll assume it's -'04. Make sure its connected to the throttle body, and connected to the top of the gas pedal arm. You should be able to slide it by hand and pull on either from the opposite side. You may just have too much slack.

 

The cable is still attached to the pedal but when I push on the pedal it just slides right through the cable. This is really hard to explain. Like 01FR500 said, I may have to much slack, that's what it seems like. Is the end of the cable supposed to be securely attacked to the pedal so it doesn't slide through?

 

If you have any slack in the pedal i recommend doing this to fix it.
http://www.mustangworld.com/ourpics/fcar/99pedals.htm

 

Yeah you need to take out as much slack as possible, but also find out why it just now has more slack than it used to.

 

It may also be caused from my exhaust. I drove through a flooded area not remembering how low my exhaust pipe is... Could this be a possibility? and if so what can I do about it?