My guess is, if you can find a horn pad with the cruise buttons on it, and the clockwork spring at the steering wheel is still ok. (Does the horn work now?) Once you drop the replacement horn pad in, it may just work.
We had a van that had that same steering wheel (85 E-150) with cruise. The small plastic frame that holds in the cruise button tends to crack over time, and can let the cruise buttons either become intermittent, or allow them to fall out. My guess is the PO had some issue with the cruise buttons, and just replaced the pad with one he found, or had...... I looked for a decent replacement for the one in the van for quite some time, and eventually found a better one, but it took a while, and I was looking in the 92, 93 time frame. The non-cruise horn pad is much more common, and they were not as easily broken.