The Throttle Position Sensor (TPS) in an Oldsmobile is a device that measures the position of the throttle in the engine. It is located on the throttle body and sends a signal to the engine control module (ECM) indicating the position of the throttle. This information is used by the ECM to control the fuel injection and ignition systems, ensuring optimal engine performance. A malfunctioning TPS can cause a variety of issues, such as poor engine performance, poor fuel economy, and a check engine light.