To equip a talisman, drag it onto your paperdoll. It has its own unique slot and will appear to the right of your paperdoll figure. To equip a talisman you must have paid for the UO:Mondaine's Legacy expansion, however.

Some talismans require that you click on them to perform an action, such as Curse Removal, Damage Removal, Creature or Object Summoning. Talismans of Clean Bandage Summoning are particularly useful in getting healed up after being killed and rez'd, when your bandages are still on your corpse. Either insure the talisman or find one of the good ones that has the "Owned By No One" property, those will become blessed to the first person who equips it.

Bovine slayers, by the way, are effective against all cattle and Minotaurs.

Mooooooooo

So far I've come across Bovine, Bat, Beetle, Bird, Bear, Flame, Ice, Mage, & Vermin slayer talismans. Can't give an exact list of what monsters are affected by each because, well, frankly there's a LOT of them. It's fairly logical though, if the thing is any type of bird, Bird slayer works, if it's an Ice creature (Ice fiend, arctic ogre lord, etc) use an Ice slayer etc etc...

Good times were had by me when I got a Mage slayer talisman and figured I'd go out and see how it worked. I blissfully forgot that evil mage lords use necromancy these days, so as soon as blood oath came into the picture I pretty much one hit killed myself.

I have a snake slayer talisman which with snake slayer weapon is very handy in the jungle, the poor snake's don't stand a chance