When using a single wall fatbike rim and a tubeless valve with a conical gasket, the gasket will sometimes stick through the rim causing the Presta nut to bottom out against it before a good seal is formed against the rim. (Details of this issue can be found here.)
This Presta nut design serves as both a conical spacer and Presta nut in one, akin to the Problem Solvers Super P-Nuts.
A full writeup on these Peanuts can be found here.
(This is not a clone, but a work-alike, designed as a rainy day experiment in what's possible with 3D printed Presta valve threads.)
The author marked this model as their own original creation.