In China, red ribbons are a status symbol signaling a new-car purchase. The red ribbons tied around hubcap spokes and sideview mirrors are good-luck totems for new cars, the same went for a new house or apartment.
In Cuba it’s a tradition to hang a red ribbon in your car to protect the vehicle. It’s said that this disperses negative energy; in other words, it can reduce the effects of the “evil eye” [a curse in Afro-Cuban religion].
Another belief, coins tied with red ribbon symbolizes prosperity, wealth and of course, good luck. The red ribbon is tied in a knot. The color of the ribbon symbolizes good fortune since the Chinese believe the color red is a very auspicious color. The tied red ribbon ensures the owner of the coins has never-ending good fortune, wealth and prosperity. You can buy three or six coins tied together.
Red ribbon tied on a baby’s crib ward off the "evil eye" and keep away bad luck.
Some people wear a red string or bracelet on their left hand to ward off the "evil eye" too. The red bracelet is called a roite bindele in Yiddish, The idea of a red ribbon warding off evil comes from old Jewish folklore and is associated with Judaism’s Kabbalah. The Kabbalah is a mystical doctrine, not religious in nature.
The "evil eye" in Judaism is connected to other people’s envy having the potential to cause evil. Where newborns are concerned, there seems to be a connection with the mythological figure of Lilith. In some stories, Lilith was Adam’s first wife (before Eve). She became known as a demonic woman who was blamed for the deaths of infants. She’s also known as a baby-stealer. Talismans are worn to ward off her "evil eye".
Check out these 12 Feng Shui Cures to Bring Luck and Protection shared by The Spruce.