The Demonic Wishing Eye is a giant medallion necklace with a bulging demonic eye at the center that the Ice King wears around his neck and it possesses strong sinister magic. He claims that his future wife may be marrying him to gain control of it in "When Wedding Bells Thaw". He keeps it on his neck near the ghost pouch.
In "Reign of Gunters", it is revealed that the eye has the ability to create unlimited supply of powerful doppelgangers of the wearer; these doppelgangers are impossible to defeat but still have the will and mindset of the wearer. When one of the Gunters wears it, the penguin doppelgangers gain abilities that allow them to easily take over Ooo, including physical manipulation of the form through face and size and the various transformation of form.
In the game Legends of Ooo, the Ice King is shown to have a different Demonic Wishing Eye that takes the form of a giant floating eyeball with green flames around it. It is able to translate wizard language into English.
- It is revealed that there are many more items that bears the likeness of the Demonic Wishing Eye, can be bought at Wizard City.
- Its apperance differs from "When Wedding Bells Thaw" and "Reign of Gunters".
- It has 100% solid gold plating.
- It apparently gives the wearer "+5% critical hit".
- The Demonic Wishing Eye is called "Magic Wishing Eye" as shown on the Ice King's computer screen.