It's supplying you with a tail shaft bushing. You may have to remove the tail shaft to install it as there may not be enough room to work around the main shaft of the tranny. Once removed, you use the proper driver to remove the old one and install the new one. Once installed, you need to make sure it slips over the slip yoke of your drive shaft without any high spots hitting. This is probably best left to a tranny shop if you aren't familiar with the repair. But here's the deal...does your slip yoke show considerable bushing wear? If so, then you need another slip yoke too. If not, then look at it and see if there is a groove worn in it by the seal. This is probable and common. If so, you still need to buy a new slip yoke (and now another seal). They also make a Speedisleeve that will fix that. If the groove is deep, you fill the groove with JB Weld or epoxy, sand it smooth, and install the Speedisleeve according to instructions. A machine shop can install it for you also and once the groove is filled, it's not expensive to have them do that. And of course, be sure you use some grease on everything before you put it back together so you don't tear the seal or seize the bushing.
I just thought of something...they may be supplying you with the speedisleeve instead of the bushing. If the bushing slips over your slip yoke, it's definitely a bushing. If it's an interference fit, it should be the speedisleeve. If in doubt, ask them just what they are selling you!!