Please explain what this motherboard part does

Solution
It's a heatsink for the Voltage Regulation Modules. Will they get hot? Yes. Hot enough to melt wires? Unlikely. Usually it is a good idea to keep things off the heatsink so they do their job, but if you have enough airflow in the chassis it shouldn't be an issue.

Rookie_MIB

Distinguished
It's a heatsink for the Voltage Regulation Modules. Will they get hot? Yes. Hot enough to melt wires? Unlikely. Usually it is a good idea to keep things off the heatsink so they do their job, but if you have enough airflow in the chassis it shouldn't be an issue.
 
Solution