When I was a kid I took apart a phone (probably a 500). For lack of a better term (i.e. what do you call it?) - the terminal block where all the connections join together?

Also, what is inside of that thing? And, since not all phones have it, why is it needed? I can see the need for a place to connect everything together... but that's about it.

Anyway, as I said, I took (rather tried to) take one apart when I was about 8. Pried up the tabs, but could only get it out about 1/2". Was immediately confronted with a bunch of goo, and decided maybe this isn't such a healthy thing to be getting on me. (This was the same time when rampant warnings were running around to not take apart a golf ball, as at the core was a substance that would burn, blind and cripple you).

Whats in there, why is whatever in there needed, and what's with the goo?

Thanks
Matt