Schedule 40 Steel Pipe Nipple, 1/8-27 Male NPT, 1.50 Inch Long

This Schedule 40 steel pipe nipple comes without any thread sealant, so you'll need to apply that yourself based on your specific application.

For a 1/8 inch port using NPT threads, yes, this is the right match. The thread spec here is 1/8-27 Male NPT, which is the standard thread form for 1/8 inch NPT connections. At 1.50 inches long, it gives you a short extension off the port without taking up much space. No thread sealant is included, so you'll want to apply your own tape or compound before threading it in.

It is threaded 1/8-27 male NPT and the overall length is 1.50 inches, so it matches that size callout for a short extension or connection.