I don't believe it was a factory option, probably installed by a gunsmith at some point. Have to see what others say.
chaosrob nailed it. It is called "the Smith & Wesson option". If you have Colt set up that way the sights are after marketNone of mine have this. A lot fo my S&W revolvers have these features but none of my Colt D backs (except the one someone put a yellow insert into)