Is this the brake bleeder?

What should I do about the rust

Spray some penetrating oil on it before trying to loosen it and let it soak for a few hours. Use a 6 point socket on it to break it loose as this will lessen the chance of rounding the hex nut off. If you are trying to bleed your own brakes and don't know where the bleeder is then in my opinion you should NOT be working on your brakes. Get someone with some mechanical knowledge to help you. Messing up the brakes can cause an accident.

Thanks, and I will have someone with me that knows how to do it, but I was just looking thru repair manual to indentify parts. And I was just confused on the location of the bleeder since I have a lot of rust.