Chosen Solution
Replacing a Verizon iPhone 4 home button (read: taking it apart entirely). Flipped it over to take off the screen and two small pieces fell out. One was the rubber bumper that sits atop the logic board. The other is a tiny, 1mm x 1mm x 2mm black plastic bit (see photo). Anyone know where it goes?
It goes on the Dock connector, between the mic and the home button connector, in the hole made for the yellow mic cable.
I have the same issue but its a different rubber part because the on of the mic it has a 2 mm or 1 mm sort of tube on it. This one is just a small rectangle. It looks the same of the image.