This is a Hi-Viz Sight known as the Litewave, model NVLW01.
HIVIZ(R) LiteWave(R) Front Sight for Novak 1911 front sights. Fits Novak style cut with .330" x .075" x 65 dovetail with blade height of .180". Also fits Sig Sauer 1911" Rock Island Armory" Armscor and American Classic 1911. Includes Green" Red and White replaceable LitePipes.
Features:
Interchangeable Litepipe design
Includes green red and white LitePipes;Front sight