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black eye (n.)

"discoloration around the eye from injury" c. 1600, from black (adj.) + eye (n.). Figurative sense of "injury to pride, rebuff" is by 1744; that of "bad reputation" is from 1880s.

In reference to dark eyes, often as a mark of beauty, from 1660s. Black-eyed is from 1590s of women, of peas from 1728. The black-eyed Susan as a flower (various species) so called from 1881, for its appearance. It also was the title of a poem by John Gay (1685-1732), which led to a popular mid-19c. British stage play of the same name.

All in the Downs the fleet was moored,
  The streamers waving in the wind,
When black-eyed Susan came aboard,
  "Oh! where shall I my true love find?
Tell me, ye jovial sailors, tell me true,
If my sweet William sails among the crew?"
[etc.]

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Definitions of black eye from WordNet

black eye (n.)
a swollen bruise caused by a blow to the eye;
Synonyms: shiner / mouse
black eye (n.)
a bad reputation;
his behavior gave the whole family a black eye
black eye (n.)
an unfortunate happening that hinders or impedes; something that is thwarting or frustrating;
Synonyms: reverse / reversal / setback / blow
From wordnet.princeton.edu