The correct answer is option 3, Eris.
Option 1, Neptune, is a gas giant planet, not a dwarf planet. It is the eighth planet in our solar system and is known for its vibrant blue color.
Option 2, Titan, is the largest moon of Saturn. While it is an interesting celestial body, it is not classified as a dwarf planet.
Option 4, Hydra, is one of Pluto`s moons. It is not a dwarf planet itself, but rather a satellite of one.
On the other hand, option 3, Eris, is indeed a dwarf planet. It is located in the Kuiper Belt, a region beyond Neptune that is home to many icy objects. Eris is about the same size as Pluto and played a role in the reclassification of Pluto and the creation of the "dwarf planet" category.