Dritz has a little red ruler out with this kind of hole; however, I measured it and it creates an *exact* 1/4" measurement! I would not trust that one! Guidelines4quilting.com also has a gizmo for measuring a scant 1/4". I have it, but do not use it.
It's easier for me to simply use my most trusted ruler. I put the ruler under the raised presser foot, gently lower the needle until it is touching just to the right of the 1/4" line, lower the presser foot to hold the ruler in place, check that the ruler is running front to back (not skewed), and butt my adhesive guide (the Dritz refill for the red ruler) against my ruler. That creates a physical barrier that I can run my strips against. I can sew seams very accurately and very fast with this method.
Another option is to simply use a lined index card to measure your scant 1/4". The lines are 4 to the inch.