Loose Hose

My Daewoo leaks Tranny fluid everywhere, someone disconnected a hose and couldn't put it back/couldn't remember where it went. It comes out of the red cap for the tranny fluid, and just sits inside under the hood leaking everywhere, Where does this hose go and what is it called? Is it the Transmission Cooler Pipe or Hose? And also, I read somewhere that it was supposed to just there not connected to anything; however, that doesn't make sense to me because then the fluid leaks out everywhere. So am I missing something then or is what I read from a complete moron.