My very old outdoor faucet pipe broke-off inside the pipe fitting. I can't get the rusted broken piece of pipe out. What to do?

My very old outdoor faucet pipe broke-off inside the pipe fitting. I can't get the rusted broken piece of pipe out. What to do?

Several options come to mind. I assume the fitting is a elbo and is inside the wall.
You can open up the wall and replace the elbo and stub out for a new hose bib,**or** you can rent a set of easy outs,(see image) and remove the threaded piece of pipe and replace the nippleand the hose bib. Good luck, Tom