During the second episode, Mayu Suzumoto encounters the spirit of Shiori Fujiwara who asks Mayu to hide her body. After finding a dusty sheet, the spirit thanks Mayu and leaves behind the paper charm before disappearing.
The paper charm acts in the same manner as the power stone and scented beads from the first game. As in it will protect the user from one spiritual attack, which can come in the form of looking at or examining Ryou Yoshizawa by the front entrance.
Significant plot details end here.
The Japanese on the front reads Charm (御守,Omamori?).