They are in the center of the valve covers with a tube running from them to the air intake one is about 20" long and one is about half that length.
I also have a 2002 Mustang GT with a bad PCV valve. It made a ticking noise while the motor was running then ticked for 3-4 seconds after it was turned off. A way to test if it is a bad PCV valve is to remove it and see if the noise stops. It is in the right head just under the intake hose. Lift it out and if the noise stops there is your problem. It's a five dollar fix.
No PCV valve on this engine. Has "PCV system". Hose from valve cover to throttle body. Nothing to replace.
in lower intake Manifold at the back, also replace breather filter under the PCV.
The PCV valve is on the top of one of the valve covers with a hose extending to the breather assembly. 1986 to 1995 Mustang V-8's have the P.C.V. valve located in the back end of the lower intake manifold. Reach between the upper manifold and the firewall and there should be a vacuum line, about the size of a finger, running down to the lower intake. This is the one going to the P.C.V. valve.
The 2010 Ford Mustang GT is a 4.6 L - 3 valve per cylinder - V8
265 stock
Right next to the oil cap
For pics and instructions for the Grand Prix GT check out. http://macgp.clubgp.com/howto/engine/pcv/gt/pcv.html . "G" It is in the intake behind the throttle boly.
under altandtor on intake
Under the air hose on the passenger side valve cover.
1964 1/2 Shleby mustang 1965 Mustang GT 1966 Mustang GT 1967 Mustang GT 1968 Mustang GT/CS 1969 Mustang Mach 1 1970 Mustang Mach 1 1971 Boss Mustang 1972 Mustang Mach 1 1973 Mustang Mach 1 1979 Mustang 1982 Mustang GT 1983 Mustang GT 1984 Mustang GT 1985 Mustang GT 1986 Mustang GT 1987 Mustang GT 1988 Mustang GT 1989 Mustang LX 1990 Mustang GT 1991 Mustang GT 1992 Mustang GT convertible 1993 Mustang GT/Saleen(possible) 1993 Mustang Cobra 1994 Mustang Cobra/GT 1995 Mustang GT 1996 Mustang Cobra 1997 Mustang Cobra 1999 Mustang Cobra 2001 Mustang GT/Cobra 2002 Saleen Mustang S-281-E/Mustang GT 2003 Mustang Cobra 2004 Mustang GT 2005 Mustang GT 2006 Mustang GT 2007 Mustang GT 2008 Mustang GT P.S. Shelby used to be the original mustang owner in the 1960s but in later years was bought out by Ford -Doug
In the intake behind the throtle body.