Okay not sure if this has been posted, and as a matter of fact I don't even know what to call this.

Under the body of the car there is a weather stripping of some sort that lines around and under exterior of the car.

What is this for?
Mine appears to be pealing and/or falling off, anyone else have this problem?

 

Photos of what you're talking about might help. probably stopping water from splashing into the car but I'm not really sure where it's located....