On a 1992 Ford Ranger 4.0L 6-cylinder engine, the Variable Reluctance (VR) crankshaft position sensor is typically located on the passenger side (right side) of the engine block, near the bell housing where the engine connects to the transmission. It's usually mounted directly to the engine block and points towards the crankshaft pulley.
However, the exact location can vary slightly depending on the specific engine configuration and accessories. To be certain, you should consult a repair manual specific to your 1992 Ford Ranger 4.0L. A Chilton's or Haynes manual will have diagrams and detailed instructions.