One revolver often associated with "Bat" Masterson is the so-called "Buntline Special", but those guns have a longer (12") barrel than normal, not a shorter one. The maker, of course, was Colt. (While the story seems mostly fiction, Colt did in recent years, make several models using the "Buntline Special" name, but that was long after the time of the Wild West.)
That story is so confused and seems to be mostly made up, though, and no Western historian takes it seriously. For an interesting discussion, check:
http://www.kancoll.org/khq/1976/76_2_shillingberg.htm
Jim