The eyelet tool set from Vaessen Creative is handy for setting eyelets in paper. First punch a small hole in the paper and then use the same tool to set the eyelet. This is done using a small hammer. This tool set is suitable for eyelet sizes 2.4 mm and 5 mm.
The advantage of an eyelet tool - also known as an eyelet setter - is that you can punch holes and set eyelets or split pins in the middle of a card or sheet of paper. A hole punch can often only be used along the edges of the paper. This makes the eyelet setter a popular tool among hobbyists for card making, scrapbooking and other paper crafts.