The Pentagram is the symbol most associated with Paganism and Witchcraft.  It sometimes called a “Satan Star” as it is used by Satanists (and as we know, a lot of people think of all Pagans as being Satanists or "Devil Worshippers").  The Pentagram is used in Witchcraft to symbolise protection and the 5 Elements, Earth, Air, Fire, Water and Spirit.   The inverted (upside down) pentagram if often thought only to represent Satanism, but it is used in Witchcraft to symbolise banishing when the upright pentagram symbolises invoking.  It is also used by some Pagans to represent the Horned God.  Some people say that the inverted pentagram symbolises ego and materialism, as in this position the Spirit point is at the bottom, symbolising that the body comes before the spirit.  It is also sometimes wrongly called a “Star of David” or the “Jewish Star”.  I've often been asked if I was Jewish when people see my Pentagram :)   However the Star of David is a 6 pointed star, comprised of 2 equilateral triangles (You know how you draw a star by making 2 triangles).  The Pentagram is the 5 pointed star.   If you remember your Mathmatics...  "hexa" means 6 - so a 6 pointed star like shape is a Hexagram, "pent" means 5, so a 5 pointed star shape is a Pentagram.

There is sometimes confusion over Pentagram and Pentacle, but they are 2 different symbols.  
Some people call them the same thing.. but they are not.

Pentagram
The Pentagram is the 5 pointed star.  I think of it like a person doing a star jump (with arms and legs open - like that classic "Balance" man image), so the head is the top point, the arms and legs make the other 4 points.

Pentacle
The Pentacle is the Pentagram, surrounded with a circle. 
A Pentacle is also the name of a ritual tool that is a pentagram, or a pentacle that has been drawn onto a (usually) round disc. 

Apparently the pentagram has been used by many different cultures before it was considered to be “Evil”, it was used as a symbol of truth and protection.
 

• Early Christians (Before the crusades) used it as a symbol of the 5 wounds of Christ.
• In Mesopotamia is was a symbol of imperial power. (The power spread to the 4 corners of the world - The power being the top point and the 4 corners being the 4 other points presumably).
• The Hebrews used it as a symbol of Truth and the five books of the Pentateuch.
• The Ancient Greeks called it a Pentalpha (5 a's) but didn't give it any symbolic meaning.
• Pythagoreans used it as a symbol of perfection. (they have never seen me draw one freehand)
• Gnostics called it a "Blazing star" and for them it symbolised the magick and mystery of the night sky (Like the crescent moon which they also used)
• To Egyptians it represented "Underground Womb", it is said to be related to pyramids.
• Druids used it as a symbol of the Godhead.
• Pagan Celts used it to symbolise the underground Goddess Morrigan.
• In medieval times it was called an "Endless knot" and represented Truth, and was used to protect. The upright pentagram symbolised summer and inverted symbolised winter.
• Sir Gawain (Of Artherian legends) used a Pentagram on his shield, and it stood for the five knightly virtues of generosity, courtesy, chastity, chivalry and piety.
• The knights of Templar used it (but the article doesn't say what it symbolised to them)
• Freemasons used it as a symbol of virtue and duty and the Women's branch of freemasonry calls it an 'Eastern Star' ,each point commemorates a heroine of biblical lore.

When drawing a pentacle, it is best to do it in one motion.. if you were drawing it on paper, think of the pen not lifting from the paper. This picture shows how to draw a pentagram, and a Pentacle in one movement.
 

Each point on the Pentagram represents an Element, Spirit, Earth, Air, Fire and Water.  Some traditions and paths ascribe different points to the Elements, giving different reasons for the points being where they are. Since it seems to not matter which version you use (If different people use different versions and they both work)... I suggest you pick a version to use, and stick with that.  For the purpose of this page, I use the version to the left (Air on the Left).  I have also seen people switch Earth & Fire.
 

It was suggested to me that there is a more appropriate version - where the compass points are used to determine the points of the elements.  This was explained to me for use by Southern Hemisphere Pagans, but it is very interesting - it works the same for the Northern Hemisphere too! ... And it gives some food for thought about why the Element points are attributed to the different points on the Pentagram

First, you take the compass points, and convert that into the Elemental points.  Then rotate them Deosil (Clockwise in NH, Anti-clockwise in SH) so that they go from being a +  to a X  (Because Spirit is the top point always)
 
 

Northern Hemisphere	Southern Hemisphere

Northern Hemisphere	Southern Hemisphere

Each Element has an invoking and a banishing Pentagram.  This depends on the way you draw the pentagram.  An invoking pentagram is drawn from the point opposite the Elemental point, drawing the line and the energy towards the Elemental point, and then out to the other points.  The banishing Pentagram is drawn from the Elemental point outwards to the other points.  The invoking pentagram is sometimes drawn in the air in the Elemental Quarter when invoking that particular Element.  The banishing pentagram can be used when releasing the Element.  When doing a circle around the Pentagram, Invoking goes clockwise and banishing goes Anti-clockwise  (Unless you follow a tradition where that is reversed :))