It's on the very bottom row of switches just above the little cubby inDoing my homework looking at used Caymans: Is the switch to the lower right of the console the PASM switch?
I have seen several 06 models where the switch next to the spoiler switch is labeled SPORT. Same thing as PASM?To add to the above:
The switch you circled is indeed the PSM switch.
Take another look at your picture. There is another switch in the same row as the circled PSM switch, but on the far left. That switch is for raising the rear spoiler.
The PASM switch, if it were present, would be just to the right of the rear spoiler switch, and it would have a graphic that looks like a shock absorber, at a slight angle.