The Pilot Glasses is a item you can get by the chrono quest in which you get 1 emerald. This is one of the hardest quests, as it's hard to travel through the Ocean, and also have a amethyst pickaxe (at least). Also, you should make sure you have roofs or a turban, as a sandstorm may happen at any time, and the only way to prevent getting damaged is either having a turban or being under a roof. The only use of this item is to make the Pilot Hat.
The Pilot Glasses were added in the "Desert" update.
Unlike most items, Pilot Glasses have no tooltip caption. When hovering over the item, all that appears is "Pilot Glasses".