What is the name of the tool?


Forgive my absence of knowledge, but what is the name of the tool that one uses to measure the wattage coming out of ones speakers. I called it a watt meter to my family and got something that measures the watts and current coming from the outlet to the powered device I was using instead, for Christmas.  
rickytickytwo
I’ve used a 1 ohm load resistor in series with the speaker. I measured the voltage drop across the resistor with an HP rms volt meter while measuring spl at one meter on axis with a B&K spl meter. Source is a sine wave generator. I^2*R=power. 
Back in the day, Technics made a SH-9020 Power Meter.  I not only sold them, but personally used one for quite awhile.  Pretty accurate if I remember correctly.

https://www.kenrockwell.com/audio/technics/sh-9020.htm
The Illuminated Power Output Watt Meter on the MC501 is peak responding, and indicates the true power output of the amplifier
No, they measure voltage. Power would only be correct for a pure resistance. Examine loudspeaker impedance curves. Some of the more egregious ones have a 10:1 impedance ratio.