i_think_we_are_lost: There have been many changes in the area since I placed originally placed this. The cache was originally a red M&M character/container that had a hat that could be removed. The container was placed inside the fence post. The fence rails could be slid to open up a hole in the fence post where the little M&M dude lived for many years.
For all I know it is still there, but it is a difficult location with no easy parking, now has nearby homes, and is on a busy road that can draw a lot of attention to someone 'taking apart' the fence.