I have several tiny wrenches. I always knew them as my "ignition wrenches" because I used them on car and motorcycle ignition systems for distributors and magnetos and such.
I have ignition wrenches that small as well as regular combo's like you show. the smaller ones are useful in electronics work, lots of small nuts on standoff's and things inside older electronics. I think I have sockets that go down to 3.5mm but no 1/8"
Checking a Proto tool board has this as the smallest ignition wrench. 1204 through 1220 even numbers only except for 1205, 1209 and 1211. I have a 1205-e 5/32 that is truly tiny!
I have a couple tiny Snap-on combination wrenches, a 3mm and a 6mm. Found them in the street a few years ago. Thought they were toy wrenches when I saw them.
Call me skeptical. I've never seen an "ignition wrench" below 5/32.
I too have an 1/8" wrench, but it was made for aircraft repair, and I am not familiar with anything smaller than that. If you have it, I'd love to see a picture.
I've got an old set of Moody miniature open-ended wrenches that go from 5/64" to 5/16".
I used to use them for small electro-mechanical assemblies like relays and such.
I haven't used the set in years. Everything's solid state or press-fit these days - not many tiny nuts to turn in modern stuff.
Here are some typewriter wrenches.
From IBM, Royal and Ames Supply with a miscellaneous Proto or Williams Superrench thrown in.
Looks like some made for a specific part on a particular model of typewriter but I couldn't tell you which ones.