That is different. Looks like its been cut, can't figure out how that might have happened. The tear/cut is in a piece of sheet metal under the valve cover, I think its a baffle to keep oil from splashing around off the camshafts too much, but I could be wrong about its purpose. I think that sheet metal baffle is permanently attached to the underside of the valve cover, so the replacement part may be the valve cover assembly.
There may be a valve cover replacement how-to here, I didn't look, but found one at http://www.toyotanation.com/forum/132-c ... -pics.html
while looking for pictures of the underside of a 1ZZ valve cover.
Are you the original owner or did you get it used? Any car history that might explain it?
On one hand I'd say don't worry about it, its not a moving or critical part, but I can't tell from the picture, and if there is a triangular piece of that sheet metal missing and not just bent, then that is something you do not want floating around inside the engine.