Here are the actual seals. These two seals, when pressed into the pump body, are constantly separated by the spacer so they do not settle or compress against one another and risk oil/water or water/oil contamination. The spacer sits, and is captive, right over the weep hole to let a leak drain and become visible and detectable.
It is very important that the four little feet on the spacer face the oil seal when reinstalling the seals! The flat side of the spacer faces the water pump seal and the feet face the oil seal.