The Projectile Protection enchantment can be applied to all armor pieces. It reduces damage received from projectile attacks drastically and its protection is scaled as its level is increased. Projectile Protection is coded to also protect from snowballs and eggs even though their damage is set to 0.
The player taking reduced damage from a skeleton shooting arrows (via screenshot)
Projectile Protection will reduce damage received from projectiles such as arrows, throw tridents, llama spits, ghast fireballs, blaze fireballs, and shulker bullets. It also reduces damage taken from wither skeletons. It will, however, not reduce damage from the splash potion of harming, dragon fireballs, or firework rockets. The enchantment will reduce damage by 8% per level, this caps the maximum damage reduction per armor piece at 32% as the highest level of Projectile Protection is IV (4). Since it can be applied on up to 4 armor pieces theoretically it can negate all incoming projectile damage, but Mojang has capped the reduction at 80% when taking all other armor pieces into account.
You can use several different ways to get Projectile Protection. Firstly, the quickest way to get this enchantment is by using an enchantment table and some lapis lazuli. You will also need the required or higher experience level for enchanting.
Projectile Protection III is shown as available on the Enchantment Table (via screenshot)
Secondly, you can use an anvil to combine any armor piece with a Projectile Protection enchanted book, but for this, you will have to get your hands on a book with the Projectile Protection enchantment. You can find enchanted books in strongholds or dungeon chests or by trading with villagers.
Applying Projectile Protection to armor (via screenshot)
If you are looking to pick fights with hostile mobs such as skeletons, blazes, ghasts, etc., Projectile Protection is highly recommended as it reduces the damage dealt by most of their attacks. The highest level of Projectile Protection is IV (4).
A. Yes, through trading with villagers you can get the Projectile Protection enchanted book.
A. Protection, Blast Protection, Fire Protection, and Projectile Protection are mutually exclusive.
A. The highest level of Projectile Protection is level IV (4).