<PAGE>   1
   AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON NOVEMBER 22, 1996

                                                         REGISTRATION NO. 333-
--------------------------------------------------------------------------------
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                             ----------------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                             ----------------------

                                 GARGOYLES, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

          WASHINGTON                                          91-1247269
 (STATE OR OTHER JURISDICTION                              (I.R.S. EMPLOYER 
 OF INCORPORATION OR ORGANIZATION)                         IDENTIFICATION NO.)
             

                             5866 SOUTH 194TH STREET
                             KENT, WASHINGTON 98032
          (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)

                                 GARGOYLES, INC.
                     1995 STOCK INCENTIVE COMPENSATION PLAN
                            (FULL TITLE OF THE PLAN)

                                STEVEN R. KINGMA
                    VICE PRESIDENT, CHIEF FINANCIAL OFFICER,
                             SECRETARY AND TREASURER
                                 GARGOYLES, INC.
                             5866 SOUTH 194TH STREET
                             KENT, WASHINGTON 98032
                                 (206) 872-6100
                 (NAME, ADDRESS AND TELEPHONE NUMBER, INCLUDING
                        AREA CODE, OF AGENT FOR SERVICE)
                             ----------------------
                                   COPIES TO:

        CYNTHIA L. POPE                               STEWART M. LANDEFELD
114 W. MAGNOLIA STREET, 4TH FLOOR                         PERKINS COIE
  BELLINGHAM, WASHINGTON 98225                    1201 THIRD AVENUE, 40TH FLOOR
                                                  SEATTLE, WASHINGTON 98101-3099
                             ----------------------

                         CALCULATION OF REGISTRATION FEE

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
   TITLE OF SECURITIES        NUMBER TO BE      PROPOSED MAXIMUM         PROPOSED MAXIMUM             AMOUNT OF
     TO BE REGISTERED        REGISTERED (1)    OFFERING PRICE PER       AGGREGATE OFFERING        REGISTRATION FEE
                                                    SHARE(2)                 PRICE(2)
----------------------------------------------------------------------------------------------------------------------
<S>                             <C>                 <C>                     <C>                        <C>          
Common Stock, no par value      817,500             $10.25                  $8,379,375                 $2,540
--------------------------------------------------------------------------------------------------------------------- 
</TABLE>

(1)      Together with an indeterminate number of additional shares which may be
         necessary to adjust the number of shares reserved for issuance pursuant
         to the Gargoyles, Inc. 1995 Stock Incentive Compensation Plan as the
         result of any future stock split, stock dividend or similar adjustment
         of the outstanding Common Stock of the Registrant.

(2)      Estimated solely for the purpose of calculating the registration fee.
         The price per share is estimated to be $10.25 based on the average of
         the high ($10.75) and low ($9.75) sales prices for the Common
         Stock in the over-the-counter market on November 21, 1996 as reported 
         on the Nasdaq National Market.
<PAGE>   2
                                     PART II

                 INFORMATION REQUIRED IN REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

         The following documents are hereby incorporated by reference in this
Registration Statement:

                  (a) The Registrant's Registration Statement on Form S-1 filed
with the Securities and Exchange Commission (the "Commission") on July 3, 1996;

                  (b) All other reports filed by the Registrant pursuant to
Section 13(a) or 15(d) of the Securities and Exchange Act of 1934, as amended
(the "Exchange Act"), since the fiscal year covered by the Form S-1 referred to
in (a) above.

                  (c) The description of the Registrant's Common Stock contained
in the Registration Statement on Form 8-A filed with the Commission on
September 9, 1996 under Section 12(g) of the Exchange Act.

         All documents filed by the Registrant pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange Act after the date hereof and prior to the
filing of a post-effective amendment, which indicate that the securities
offered hereby have been sold or which deregister the securities covered hereby
then remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the respective
dates on which such documents are filed.

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS

         Sections 23B.08.500 through 23B.08.600 of the Washington Business
Corporation Act authorize a court to award, or a corporation's board of
directors to grant, indemnification to directors and officers on terms
sufficiently broad to permit indemnification under certain circumstances for
liabilities arising under the Securities Act of 1933, as amended (the
"Securities Act"). Section 10 of the Registrant's Bylaws provides for
indemnification of the Registrant's directors, officers, employees and agents to
the maximum extent permitted by Washington law.

         Section 23B.08.320 of the Washington Business Corporation Act
authorizes a corporation to limit a director's liability to the corporation or
its shareholders for monetary damages for acts or omissions as a director,
except in certain circumstances involving intentional misconduct, self-dealing
or illegal corporate loans or distributions, or any transactions from which the
director personally receives a benefit in money, property or services to which
the director is not entitled. Article 8 of the Registrant's Restated Articles of
Incorporation contains provisions implementing, to the fullest extent permitted
by Washington law, such limitations on a director's liability to the Registrant
and its shareholders.

         The Registrant has also entered into indemnification agreements
pursuant to which it has agreed, among other things, to indemnify its directors
and officers against certain liabilities.

ITEM 8.  EXHIBITS

<TABLE>
<CAPTION>
    Exhibit
    Number                                   Description
--------------      ----------------------------------------------------------------------
<S>                 <C>                                 
       5.1          Opinion of Perkins Coie

      23.1          Consent of Ernst & Young LLP

      23.2          Consent of Perkins Coie (included in opinion filed as Exhibit 5.1)

      24.1          Power of Attorney (see signature page)

      99.1          Gargoyles, Inc. 1995 Stock Incentive Compensation Plan, as amended and
                    restated on July 22, 1996
</TABLE>


                                      II-1
<PAGE>   3
ITEM 9.  UNDERTAKINGS

A.       The undersigned Registrant hereby undertakes:

         (1) To file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement:

                  (i) To include any prospectus required by Section 10(a)(3) of
the Securities Act;

                  (ii) To reflect in the prospectus any facts or events arising
after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this Registration
Statement; and

                  (iii) To include any material information with respect to the
plan of distribution not previously disclosed in this Registration Statement or
any material change to such information in this Registration Statement;

provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.

         (2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

         (3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination of
the offering.

B. The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefits plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

C. Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.


                                      II-2
<PAGE>   4
                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, as amended,
the Registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Kent, State of Washington, on November 22, 1996.

                                    GARGOYLES, INC.

                                    By    /s/ Douglas B. Hauff
                                          --------------------------------------
                                              Douglas B. Hauff
                                              President, Chief Executive Officer

                                POWER OF ATTORNEY

         EACH PERSON WHOSE INDIVIDUAL SIGNATURE APPEARS BELOW HEREBY AUTHORIZES
DOUGLAS B. HAUFF AND STEVEN R. KINGMA AND EACH OF THEM AS ATTORNEYS-IN-FACT,
WITH FULL POWER OF SUBSTITUTION, TO EXECUTE IN THE NAME AND ON BEHALF OF SUCH
PERSON, INDIVIDUALLY AND IN EACH CAPACITY STATED BELOW, AND TO FILE, ANY AND ALL
AMENDMENTS TO THIS REGISTRATION STATEMENT, INCLUDING ANY AND ALL POST-EFFECTIVE
AMENDMENTS.

         Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed below by the following persons in
the capacities indicated on November 22, 1996.

              SIGNATURE                                 TITLE
              ---------                                 -----

           /s/ Erik J. Anderson                 Chairman of the Board
-------------------------------------
             Erik J. Anderson

           /s/ Douglas B. Hauff                 President, Chief Executive
-------------------------------------           Officer and Director
             Douglas B. Hauff

           /s/ Steven R. Kingma                 Vice President, Chief Financial 
-------------------------------------           Officer, Secretary and Treasurer
             Steven R. Kingma                               

           /s/ Timothy C. Potts                 Director
-------------------------------------
             Timothy C. Potts

        /s/ William D. Ruckelshaus              Director
-------------------------------------
         William D. Ruckelshaus

           /s/ Paul S. Shipman                  Director
-------------------------------------
             Paul S. Shipman

           /s/ Walter F. Walker                 Director
-------------------------------------
             Walter F. Walker


                                      II-3
<PAGE>   5
                                INDEX TO EXHIBITS

<TABLE>
<CAPTION>
      Exhibit
      Number                                  Description
--------------        -----------------------------------------------------------------
<S>                   <C>                                   
       5.1            Opinion of Perkins Coie

      23.1            Consent of Ernst & Young LLP

      23.2            Consent of Perkins Coie (included in opinion filed as Exhibit 5.1)

      24.1            Power of Attorney (see signature page)

      99.1            Gargoyles, Inc. 1995 Stock Incentive Compensation Plan, as amended
                      and restated on July 22, 1996
</TABLE>
[{"type": "S-8", "sequence": "1", "description": "FORM S-8 DATED 11-22-96", "secsgml_size_bytes": 14566}]
{"company-data": {"conformed-name": "GARGOYLES INC", "cik": "0001016278", "assigned-sic": "3851", "irs-number": "911247269", "state-of-incorporation": "WA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-16633", "film-number": "96671061"}, "business-address": {"street1": "5866 S 194TH ST", "city": "KENT", "state": "WA", "zip": "98032", "phone": "2068726100"}, "mail-address": {"street1": "5866 S 194TH ST", "city": "KENT", "state": "WA", "zip": "98032"}}
1
   AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON NOVEMBER 22, 1996

                                                         REGISTRATION NO. 333-
--------------------------------------------------------------------------------
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                             ----------------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                             ----------------------

                                 GARGOYLES, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

          WASHINGTON                                          91-1247269
 (STATE OR OTHER JURISDICTION                              (I.R.S. EMPLOYER 
 OF INCORPORATION OR ORGANIZATION)                         IDENTIFICATION NO.)
             

                             5866 SOUTH 194TH STREET
                             KENT, WASHINGTON 98032
          (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)

                                 GARGOYLES, INC.
                     1995 STOCK INCENTIVE COMPENSATION PLAN
                            (FULL TITLE OF THE PLAN)

                                STEVEN R. KINGMA
                    VICE PRESIDENT, CHIEF FINANCIAL OFFICER,
                             SECRETARY AND TREASURER
                                 GARGOYLES, INC.
                             5866 SOUTH 194TH STREET
                             KENT, WASHINGTON 98032
                                 (206) 872-6100
                 (NAME, ADDRESS AND TELEPHONE NUMBER, INCLUDING
                        AREA CODE, OF AGENT FOR SERVICE)
                             ----------------------
                                   COPIES TO:

        CYNTHIA L. POPE                               STEWART M. LANDEFELD
114 W. MAGNOLIA STREET, 4TH FLOOR                         PERKINS COIE
  BELLINGHAM, WASHINGTON 98225                    1201 THIRD AVENUE, 40TH FLOOR
                                                  SEATTLE, WASHINGTON 98101-3099
                             ----------------------

                         CALCULATION OF REGISTRATION FEE
----------------------------------------------------------------------------------------------------------------------
   TITLE OF SECURITIES        NUMBER TO BE      PROPOSED MAXIMUM         PROPOSED MAXIMUM             AMOUNT OF
     TO BE REGISTERED        REGISTERED (1)    OFFERING PRICE PER       AGGREGATE OFFERING        REGISTRATION FEE
                                                    SHARE(2)                 PRICE(2)
----------------------------------------------------------------------------------------------------------------------
Common Stock, no par value      817,500             $10.25                  $8,379,375                 $2,540
---------------------------------------------------------------------------------------------------------------------
(1)      Together with an indeterminate number of additional shares which may be
         necessary to adjust the number of shares reserved for issuance pursuant
         to the Gargoyles, Inc. 1995 Stock Incentive Compensation Plan as the
         result of any future stock split, stock dividend or similar adjustment
         of the outstanding Common Stock of the Registrant.

(2)      Estimated solely for the purpose of calculating the registration fee.
         The price per share is estimated to be $10.25 based on the average of
         the high ($10.75) and low ($9.75) sales prices for the Common
         Stock in the over-the-counter market on November 21, 1996 as reported 
         on the Nasdaq National Market.
2
                                     PART II

                 INFORMATION REQUIRED IN REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

         The following documents are hereby incorporated by reference in this
Registration Statement:

                  (a) The Registrant's Registration Statement on Form S-1 filed
with the Securities and Exchange Commission (the "Commission") on July 3, 1996;

                  (b) All other reports filed by the Registrant pursuant to
Section 13(a) or 15(d) of the Securities and Exchange Act of 1934, as amended
(the "Exchange Act"), since the fiscal year covered by the Form S-1 referred to
in (a) above.

                  (c) The description of the Registrant's Common Stock contained
in the Registration Statement on Form 8-A filed with the Commission on
September 9, 1996 under Section 12(g) of the Exchange Act.

         All documents filed by the Registrant pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange Act after the date hereof and prior to the
filing of a post-effective amendment, which indicate that the securities
offered hereby have been sold or which deregister the securities covered hereby
then remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the respective
dates on which such documents are filed.

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS

         Sections 23B.08.500 through 23B.08.600 of the Washington Business
Corporation Act authorize a court to award, or a corporation's board of
directors to grant, indemnification to directors and officers on terms
sufficiently broad to permit indemnification under certain circumstances for
liabilities arising under the Securities Act of 1933, as amended (the
"Securities Act"). Section 10 of the Registrant's Bylaws provides for
indemnification of the Registrant's directors, officers, employees and agents to
the maximum extent permitted by Washington law.

         Section 23B.08.320 of the Washington Business Corporation Act
authorizes a corporation to limit a director's liability to the corporation or
its shareholders for monetary damages for acts or omissions as a director,
except in certain circumstances involving intentional misconduct, self-dealing
or illegal corporate loans or distributions, or any transactions from which the
director personally receives a benefit in money, property or services to which
the director is not entitled. Article 8 of the Registrant's Restated Articles of
Incorporation contains provisions implementing, to the fullest extent permitted
by Washington law, such limitations on a director's liability to the Registrant
and its shareholders.

         The Registrant has also entered into indemnification agreements
pursuant to which it has agreed, among other things, to indemnify its directors
and officers against certain liabilities.

ITEM 8.  EXHIBITS
Exhibit
    Number                                   Description
--------------      ----------------------------------------------------------------------
5.1          Opinion of Perkins Coie

      23.1          Consent of Ernst & Young LLP

      23.2          Consent of Perkins Coie (included in opinion filed as Exhibit 5.1)

      24.1          Power of Attorney (see signature page)

      99.1          Gargoyles, Inc. 1995 Stock Incentive Compensation Plan, as amended and
                    restated on July 22, 1996
II-1
3
ITEM 9.  UNDERTAKINGS

A.       The undersigned Registrant hereby undertakes:

         (1) To file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement:

                  (i) To include any prospectus required by Section 10(a)(3) of
the Securities Act;

                  (ii) To reflect in the prospectus any facts or events arising
after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this Registration
Statement; and

                  (iii) To include any material information with respect to the
plan of distribution not previously disclosed in this Registration Statement or
any material change to such information in this Registration Statement;

provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.

         (2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

         (3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination of
the offering.

B. The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefits plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.

C. Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.

                                      II-2
4
                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, as amended,
the Registrant certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Kent, State of Washington, on November 22, 1996.

                                    GARGOYLES, INC.

                                    By    /s/ Douglas B. Hauff
                                          --------------------------------------
                                              Douglas B. Hauff
                                              President, Chief Executive Officer

                                POWER OF ATTORNEY

         EACH PERSON WHOSE INDIVIDUAL SIGNATURE APPEARS BELOW HEREBY AUTHORIZES
DOUGLAS B. HAUFF AND STEVEN R. KINGMA AND EACH OF THEM AS ATTORNEYS-IN-FACT,
WITH FULL POWER OF SUBSTITUTION, TO EXECUTE IN THE NAME AND ON BEHALF OF SUCH
PERSON, INDIVIDUALLY AND IN EACH CAPACITY STATED BELOW, AND TO FILE, ANY AND ALL
AMENDMENTS TO THIS REGISTRATION STATEMENT, INCLUDING ANY AND ALL POST-EFFECTIVE
AMENDMENTS.

         Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed below by the following persons in
the capacities indicated on November 22, 1996.

              SIGNATURE                                 TITLE
              ---------                                 -----

           /s/ Erik J. Anderson                 Chairman of the Board
-------------------------------------
             Erik J. Anderson

           /s/ Douglas B. Hauff                 President, Chief Executive
-------------------------------------           Officer and Director
             Douglas B. Hauff

           /s/ Steven R. Kingma                 Vice President, Chief Financial 
-------------------------------------           Officer, Secretary and Treasurer
             Steven R. Kingma                               

           /s/ Timothy C. Potts                 Director
-------------------------------------
             Timothy C. Potts

        /s/ William D. Ruckelshaus              Director
-------------------------------------
         William D. Ruckelshaus

           /s/ Paul S. Shipman                  Director
-------------------------------------
             Paul S. Shipman

           /s/ Walter F. Walker                 Director
-------------------------------------
             Walter F. Walker

                                      II-3
5
                                INDEX TO EXHIBITS
Exhibit
      Number                                  Description
--------------        -----------------------------------------------------------------
5.1            Opinion of Perkins Coie

      23.1            Consent of Ernst & Young LLP

      23.2            Consent of Perkins Coie (included in opinion filed as Exhibit 5.1)

      24.1            Power of Attorney (see signature page)

      99.1            Gargoyles, Inc. 1995 Stock Incentive Compensation Plan, as amended
                      and restated on July 22, 1996