Honey, I don't believe in it. Just a tradition. 
I know that nothing except Allah can protect us. (:
I read something on it here :
http://www.iqrasense.com/satan-and-evil/duas-and-supplications-to-seek-protection-from-the-evil-eye-sihr-magic-and-other-evils.html
Sorry fer going off topic. My apologies.
LOL alright! Jazaka Allah khair.
I also got this from wiki >>
Islam
Evil eye, Isabat al-’ayn, is a common belief that certain individuals have the power to look at people, animals or objects to cause them harm. But talismans and images with an eye cannot be used to ward off the evil eye. According to a tradition, Muhammad prohibited the use of talismans as protection against the evil eye because is idolatry, the form of protection allowed is suplication to Allah.[11] It is tradition among many Muslims, that if a compliment is to be made, you are always supposed to say "Masha'Allah" (??
?) ("What God wills") and also "Barak'Allah" (
?
?) ("Blessings of God") to ward off the evil eye. The reference of the Evil eye is mentioned in the Sunnah. Also (??
??) ("There is no power other than with God"). It is a testimony from someone that he/she believes that either good or bad will only happen if God wants it to. Persian speakers in Afghanistan use the phrase "Nam-e Khoda" ("The name of God") occasionally in place of "Mashallah," as well as another phrase with a similar purpose: "Chashmi bad dur" ("May the evil eye be far") also used in Urdu. These phrases are found in Tajiki as well, but in a slightly different form. In addition to saying "Mashallah," there are duas (prayers or supplications) that are said to protect against the evil eye. In Islam, God is the only one who can protect against the evil eye. No object or symbol can.[citation needed]
