An evil eye charm works by deflecting harmful intent whenever evil looks in your face. Possessing or wearing the evil eye charm as a protective amulet is based on the belief that evil can only harm you if it peers at you directly into your eyes. The evil forces are tricked by the evil eye charm. Rather than evil looking at you eye-to-eye it directs its focus on the evil eye charm where it can do no harm.
Protective evil eye charms are typically worn, carried, or placed in homes. They are also used to guard individuals and corporations against financial losses or poor business dealings.
Pictured here are a collection of Turkish Blue Eyes (Nazur Boncuk). Blue Evil Eye stones are used to protect its owners from misfortune in general.
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Reference: Body Guards: Protective Amulets and Charms, Desmond Morris