a) An object that consists of a rim and small hole or perforation to receive a cord or fastener, as in garments, sails, etc. An eyelet may reinforce a hole.
Push the aglet of the shoelace through each of the eyelets, one at a time.
b) A shaped metal embellishment containing a hole, used in scrapbook. Eyelets are typically set by punching a hole in the page, placing the smooth side of the eyelet on a table, positioning the paper over protruding edge and curling the edge down using a hammer and eyelet setter.
Wikipedia foundation.