What is this part? (photo included)

[Dan Moos]

Reads like 4 pF. I'm not convinced its a cap though. No other markings other than what are shown.

[Benta]

Ceramic cap in the pF range. Looks like an old Philips type.
1 pF could be right, but unusual.

[ArdWar]

I was wondering when the last time anyone see color-coded capacitor until I realize the color don't exactly make sense.

Maybe the base is supposed to be white/gold, which means it should be 2.7pF

[srb1954]

Reads like 4 pF. I'm not convinced its a cap though. No other markings other than what are shown.

Philips 2222 680 series ceramic cap 1pF, probably 100V rated.

This series of capacitors is intended for temperature compensation applications and the red/violet coding is for the temperature coefficient; in this case +100ppm/℃ (P100)

Other temperature coefficient colour codes:
   Black     NP0
   Red       -75ppm/℃ (N75)
   Orange  -150ppm/℃ (N150)
   Yellow    -220ppm/℃ (N220)
   Green    -330ppm/℃ (N330)
   Blue      -470ppm/℃ (N470)
   Violet    -750ppm/℃ (N750)

The extra 3pF you are measuring is probably stray capacitance. You need to zero out your meter or test fixture before measuring such small capacitors.