When looking back in the day of the Romans you'd find out these guys carved and drew phallic symbols on a lot pretty much everything.
This was not that surprising as for the Romans the phallus was connected to the god Fascinus who ruled over protection.
 
But the phallus was also a symbol of strength and war. Even today in the UK it's  reported that carvings are found on ancient walls: A tag of a Roman who had been there.
 
In Buddhist and Bön religion the phallic symbol does represent fertility and power. But it's also used there as a symbol of protection. Haesindang Park  in South Korea is also known for it's collection of phallic statues where visiters come with wishes for  joy, spirituality and sexuality.
 
 
But if this is not your thing you'd could also use these little things as ornament or as a male aspect in your magick or gris-gris bag.