NGC 1261 (also known as Caldwell 87) is a globular cluster of stars in the southern constellation of Horologium, first discovered by Scottish astronomer James Dunlop in 1826.

The cluster does not display the normal indications of core collapse, but evidence suggests it may have instead passed through a post core-collapse bounce state within the past two billion years.

The central luminosity density is 2.22 L☉·pc−3, which is low for a globular cluster.

[9] It was determined to be an Oosterhoff type I cluster, based on the periods of fourteen of the RR Lyrae variables.

[10] 18 probable blue straggler candidates have been identified.