Oops! I dropped a 9mm socket down into the y-pipe and via sound ques I can tell the location of the socket is near cat where I have highlighted in picture. I tired fishing with magnet with no success so far and I'm looking for ideas on how to get it out. Any tips will be greatly appreciated!

 

I should have mentioned in case it helps: 1995 f150 5.0

 

Its probably not going anywhere since the cat has a honeycomb structure inside it. Engine exhaust pressures are probably gonna keep it there. If you really really really got to get it out, swing by an exhaust shop, cut the pipe, grab it, and have them weld you back up.

 

Your options are:
1.use a very long flexible magnetic snake and try to snag the socket.
2.Remove the cat and dump out the socket.
3. Leave it be and live with the possible rattle resulting from the loose socket. Its presense won't harm anything.

Myself, I would try #1 and then settle for # 3 .

 

Done it (lost a socket or bolt down the Y pipe)
#2 from Raski is the method I have used
Correct, that pipe is too far away for even a good Snap-On flexible magnet
Not easy to remove that Cat

 

Success!!!! Thank you to everyone for replying. If you pull up this thread with the same problem then solution was to jab a strong bar magnet in this 3/8" OD tube and push through longer side of y-pipe (driver side). One tip: you can jostle around the cat to hear a rattle of the part and once you get magnet in correct spot the rattling should change or stop. That sound is how I knew it was time to pull out the magnet. Took an hour of trying.

 

Good one
You are on your way to being a Master straight away with that trick