Shoot Your EYE out

In "A Christmas Story" they keep saying Ralphie will shoot his eye out with the BB gun he wants. I believe the entire thing is simply metaphor for the "All Seeing Eye", the third eye (who is watching him), not wanting him to jerk off while he is being watched.

Ralphie is at the exact age of puberty where he will begin to ejaculate if he gets his “gun”.

Doing dirty things (lower frequency, yellow, orange) causes the EYE (higher frequency, indigo) to close up because it doesn’t like the “dirt” that gets in it while it’s watching. Hence, shooting your EYE out.

BB Gun = baby gun, which is double entendre for Ralphie's little gun.