'arguslike' originates from Greek, specifically the name 'Argos' or 'Argus' (Άργος / Argos/Argos Panoptes), where 'Argus' referred to the mythic figure 'Argus Panoptes' meaning 'all-seeing' or 'many-eyed'.

'Argus' (the proper name from Greek myth) entered Latin and later English usage as a reference to a many-eyed guardian; the adjective was formed in English by combining 'Argus' with the suffix '-like' to create 'arguslike'.

Initially a proper name for a mythic figure, it evolved into an adjective meaning 'resembling Argus'—i.e., 'watchful' or 'having many eyes'—and is used figuratively in modern English.