Proper way to reference instantiated context of a component

What’s the proper way to reference the instantiated context of a component so that it can be sent with an event?

For example, if I am iterating over an array using #each and instantiating a component each iteration, I’d like the component object to be able to pass the this context from the template to an event. Inside the component, context refers to the component element. I’m currently passing in this into the component but somehow that feels like it might be redundant, and I don’t really have a good name for it since it can’t be context.

Not exactly what I was hoping for, but I now see this is covered at