To use the tools, I just squirt latex craft paint onto a pad of Post-It notes and dip the end of the dowel into the paint. These make nice eyes on flies.
I made this set out of a single dowel (total cost 50 cents). You could also make a set out of old pencils you may have lying around.
Here is a short-cut link to a wonderful article by Bob Petti showing how to paint eyes on streamers (step-by-step):
Streamertyer (Paul) - I posted this separately in the tying tips section because I did not want to take anything away from your recent posting on the nice set of eye painting tools from Wasatch. I think their tools are really wonderful works of craftsmanship. These are just a poorman's alternate.