Nope. Inner buttons are cruise control, outer are the horn buttons. The wheel is either leather or leather-like. They seem to hold up pretty nice, from what I've seen of my car and the ones I root through in the scrapyard.
If you find a later mustangs, they share the same wheel. It doesn't exactly match ours since we have mercurys, but it should work fine since yours is badged as a ford. But those buttons are for cruise, a bit of cutting and splicing it MIGHT be possible to do the volume control on the radio.