Abstract: A depth gauge and adjustment tool (1) having a handle (2) having a shaft (3) extending from one end of the handle. A tip (4) having a cross pin (5) attached thereto extends from the shaft. A sleeve (9) fits over the cap (6), shaft and handle and slides back an forth along the cap, shaft and handle while the depth gauge and adjustment tool 1 is in use. The sleeve houses a sleeve spring (10), which provides resistance between the sleeve and the handle. A lip (11) on the inner surface (12) of the sleeve pushes against one end of the sleeve spring and prevents the sleeve from sliding past a predetermined point on the handle. Measurement markings (13) located on the handle are used in conjunction with the sliding sleeve to measure the depth of an adjustable fastener receptacle (21).