Yep - I have cut a small (1") piece of garden hose; cut it open, put it over the lever. It often gives a little longer life to a foot-starter button (the copper-brass "lead" on the starter housing has been worn down).

Tim
1954Advance-Design.com
1954 3106 Carryall Suburban
1954 3104 5-window pickup w/Hydra-Matic
The 216 and early 235 engines are not "splash oilers" -- this is a splash oiler.