It's a thermistor. Its purpose is to limit inrush current at power on. It has a negative temperature coefficient, or NTC: a high resistance on start-up, which goes down as it heats up.
The NTC value you choose will depend largely on the typical current your supply needsuses and the size of the input filter cap (that is, the expected worst-case inrush.)
Here's a write-up that discusses this: https://www.powerelectronics.com/community/article/21860750/how-do-you-choose-the-right-type-of-ntc-thermistor-to-limit-inrush-current-for-capacitive-applications