A few things you have to think about;
- Gearing. If you have a 2x4, it's not really a worry, just pick one that suits your driving (torque vs speed & fuel economy). But if you have a 4x4, the gearing MUST match the front. If not, you'll have to buy a new set of gears.
- Brakes. If the Mustang has disc brakes, that's a cool upgrade but some people report that it works fine but others have issue getting the proportioning right. There's also extra work to get the emergency brake installed properly.
- Shock and spring mounts. I've never looked but I don't imagine the spring & shock locations are close to an Explorer's setup. You'd have to do some cutting and welding.
Now, maybe you're just taking about the carrier? If so, that drops right in but you'll want to do the usual lash measurements otherwise the gears will eat themselves.