Observe Fancy Dances is a phrase that refers to the practice of watching and appreciating different types of dance. It can be done in a variety of ways, such as attending a live performance or viewing a video online. The term 'EYEBALLS' is an 8-letter word that is often used to describe the act of looking at something with great attention and detail. Therefore, Observe Fancy Dances could be interpreted as using one's eyes to appreciate the beauty and skill of various dance styles.