They allow fitting of wheels of the wrong ET.
Using sport stars as an example.
Omega sport stars are ET30. And give a gap between the inside edge of the tyre and the shock upright of roughly 10mm for argument sake.
Vectra sport stars are an ET of 38. This means they sit 8mm further inboard than the omega ones. So will give a gap of 2mm from the tyre to the shock body. They will fit, but the tyre could rub the shock.
In order to get the vectra wheels to sit correctly/the same as the omega ones, an 8mm wheel spacer could be used to move the wheel position outboard.
Or, they are often used to space out the standard wheels for appearance purposes.
The important thing with them is that the wheel bolts used are longer by the same thickness as the spacer, and that the wheel doesn't touch anything throughout its movement in the new position.