The .45 caliber (.455 Webley) Webley Mk VI Revolver was the standard issue service pistol for the armed forces of the United Kingdom, the British Empire, and the Commonwealths from 1915 until 1932. Unfortunately, the revolver depicted in "The Double Deuce" is a later WWII-era Webley Mk IV .38/200 Revolver as evidenced by its smaller frame, cylinder and oval "Webley" logo on the upper grip.
After Captain Reggie Thistleton died, Lieutenant Stripes stole Reggie's Webley and kept it for many decades. Later in life when Stripes re-united with Woodhouse and Corporal Bishop, he gave Reggie's Webley to Woodhouse. Stripes believed that's how Reggie would have wanted it. This action was essentially Stripes's way of burying the hatchet.