I have a 95 Yamaha wolverine and I was looking at the suspension and I noticed there was a way to adjust something. Could someone please help me with figuring out what it adjusts and how to do it? Thanks

 

Most likely the pre load collar. The low notch makes the spring softer the tall notch is the stiffest. You can get the tool or use a pipe wrench to turn the collar.

This one is on the softest spring setting ,turning counter clock wise is the stiffer settings.