This is funny. The Indo European (and hence Slavic) roots for eyes typically have an /o/, and this glyph is round like the eye, so it seems like this character and others linked in that article are just people making little cartoonish drawings on writings involving descriptions of eyes.
link to the wiki article. Though this is a variation of a Cyrillic letter, not latin
https://en.wikipedia.org/wiki/Multiocular_O
This is funny. The Indo European (and hence Slavic) roots for eyes typically have an /o/, and this glyph is round like the eye, so it seems like this character and others linked in that article are just people making little cartoonish drawings on writings involving descriptions of eyes.