There are a few episodes on Breaking Bad where a toy eye that Walter removes from his pool appears. It seems to be having some sort of judgmental meaning as if it sees everything that Walter does. What is the true meaning of it? Especially, interesting to understand what does it signify when Skyler spots the eye but in the end doesn't seem overly confused over finding something of that sort at Walter's apartment.
The teddy bear eyeball that Walt found in his swimming pool is symbolic. It's very, very symbolic. However, I'm not sure I can tell you with 100% certainty of what the symbolism is, what it represents...On the face of it, when we were coming up with that eye as an image, it probably, represented some form of the eye of the universe, the eye of god, the eye of morality, I suppose judging Walter White...And so symbolism like the eyeball, I'm not sure what it means to me completely but I'm always interested in hearing what it means to viewers of the show. I guess if you're going to hold my feet to the fire, what it means to me is the eye of God on Walt. If not necessarily judging him, nonetheless watching him, keeping tabs on him. And then the question: If that is what the symbolism stands for, then why does Walt keep that eye? Why does he keep it in his drawer versus discarding it?
I have frequently noticed that an artist, an author, a sculptor or anyone in the creative field may be able to analyze and/or explain their art, but frequently overlooks what another, an unknown third party viewer may be able to see. (No pun intended.) Yes, the eye of the once perfect pink teddy bear, the eye that is forever lost to the teddy bear and the teddy bear itself, forever lost to one child or another, may symbolize what one character IS able to see and what another character may not notice at all.
The son has MS, the Mother commits illegal acts at the accounting firm, the DEA brother-in-law steps outside of his legal boundaries, purposefully with no remorse. Every character on the series has a flaw, but it seems as if Walt may be the only one to recognize his own flaw and yet continue to act in a manner in which he knows is wrong.
He keeps the eye for a few reasons. He wants to remind himself that what he is doing IS wrong, and to never take it for granted that it is in anyway OK; he recognizes his own flaws and does not want to forget.
He is fearful, in hiding, that more than the teddy bear's eye will see him, so he even tries to hide that eye from time to time. Walt understands that no-one and nothing is perfect Curiously, it is only one eye and not two that are lost from the stuffed animal so the animal is never rendered fully (and symbolically) blind. So too is true of the character Walt.
Even the bear, in its burnt (out) and seemingly no longer worthwhile position (now debris and seemingly worthless when at one time the bear was a treasured possession), part of this pink broken bear still has worth. Walt does not want the entire bear to "go away" just to be replaced by another toy. He keeps the eye, without realizing, that he is attempting to keep some value unto himself knowing that even the flawed are worthwhile. With the eye as his superego as well as his reminder of the fact that all will be lost to him one day,Walt "holds on" to what is real and what is perception.