As stated, this is an air restrictor plug for the Nerf Agility.
It requires that you remove the posts that hold the AR spring rest and trim them back slightly. There are 4 grooves on the sides of the plug that fit around the 4 ribs on the inside of the air restrictor body. This WILL be a snug fit and may require you to push the plunger tube down onto the plug for it to seat properly and allow the cap to clip back into place.
Now you will have direct airflow for your modded Nerf Agility! I have chronographed the Agility to hit in the 130 FPS range with a simple Rival spring swap, e-tape over the holes on the plunger tube, and this plug.
I have also confirmed that this does fit on the revolver that comes in the Nerf N-Series Gear Up pack since they have identical plunger systems.
The author marked this model as their own original creation.