They are also called "gutserts". They save the wood from splitting out. Goose guts are a wedge fit, pair that with thin walled end grain wood and it will probably fail at some point. I've also seen people use an inset thread wrap/epoxy to keep the wood from splitting.
You can make your own tenon sleeves from plastic, acrylic, aluminum, etc. Or some of the site sponsors sell them. I know Wade at WEBFoot sells some, I think the aluminum ones came from rivermallard.