my friends 1994 Camry 2.2L looks like harmonic balancer came apart. Is this the correct piece. Need to know if it is serious. Thanks

 

The balancer is two metal parts held together with a rubber product. The rubber appears to have broken down with age (not uncommon) and the result is what you see.

Replacing the balancer should be all that is needed.

As the belt is off, rotate any pulleys driven by the belt and determine if it is hard to turn as in a bad bearing or other issue. This can place additional shearing force on the balancer rubber material.