I'm really glad you asked. I have one also and I also don't know what it is. I forget about it until I almost trip over it turning on the water hose. :)

Shouldn’t it be connected to something?

Dustin-

Yes, it should be connected to the electrical service with a proper size grounding wire: Residential grounding requirements

It might be an abandoned ground rod from something else, like a cable system, but I suspect not. In any case, if you don't see any other ground rods around that have a copper cable running to your electrical panel, then this is something you need to get fixed.

Probably abandoned-- if you've had your electrical service upgraded in the last couple of decades they probably had to install a new grounding rod to meet current code and upgraded capacity requirements. There should be one much like it that attaches to your current electrical panel. If there's not, call an electrician to investigate.

Where is this grounding rod in relation to your breaker/fuse panel? Is the panel connected to a grounding rod? (Current code requires 2 rods, spaced several feet apart.)

Thanks. I’ll call an electrician to make sure everything is up to code. I think I also have seen a grounding rod in the corner of my near my fence. I suspect this is a safety thing as well

The grounding rod is fairly close to where the panel is on the inside of the house. It’s also in the same spot where I have the internet cable come in so I don’t remember if Comcast abandon it 10 years ago when I had service come in. The internet cable is grounded to a connection on the electrical panel outside and the electrical panel inside is grounded to the water service pipe coming inside to the house.