Good points all, thanks for humoring me on the "why" this design was selected.
As I look at it more closely it's clear you guys are right, there are actually three stripes and it's obviously a rocker stripe not a Le Mans stripe.
For the record I'm tracking the '69/'70 Shelby's didn't have Le Mans stripes, I was picturing the striped shift knob being at home in a '68 Shelby with overhead stripes.
Anyway, whatever reason the designers at Ford chose it, I'm a fan, I like that it matches the wood grain interior and it's just more interesting than the black shift ball.