There was a bright, transient companion spot to SN 1987A with a projected distance of about 17 light-days, observed by optical speckle interferometry 1-2 months after explosion. It is shown here that the bright spot may be due to a receding ultrarelativistic jet traveling at similar to 53 degrees with respect to the observer-to-SN 1987A vector, through a circumstellar medium with a density profile of rho(r) proportional to r(-2). If it had approached us along the line of sight, a very bright gamma-ray burst (GRB) would have been seen with an apparent isotropic energy of similar to 10(54) ergs and an opening angle of a few degrees. The model provides an adequate explanation for the evolution of the spot, although there are still problems in explaining its observed color. This model implies that at least some GRBs would be seen as going through a medium with a density of rho(r) proportional to r(-2) rather than through a uniform medium, which is frequently adopted in GRB calculations. Improved analysis of the speckle data has revealed another, fainter spot on the opposite side.