The five pointed star is an ancient symbol that has been used for many purposes through the ages. To Pythagorus it was known as the pentalpha because it resembled five alpha symbols interlaced. He considered it one of the geometricaly perfect shapes.
In Le Mort de Author it adorns Gawain's shield and is described as representing the five virtues and the five wounds of Christ.
It has been used in the occult as a symbol of protection, and modern witches use it as a representation of the five elements - earth, air, water, fire, and spirit.
It has been used, also, by modern Satanists - inverted (point down) and with an image of Baphomet inside it it.