This special Bhasma is prepared from Navgraha (9 planets) sticks and is highly powerful in pacifying the malefics of nine planets.
Origin of vibhuti:
From the Shiv's 5 faces ie., from Sadyojaat, Vaam Dev, Aghor, Tatpurush, Eeshaan came forth from Nandaa, Bhadraa, Surabhi, Susheelaa, and Sumanaa cows respectively.
From Nandaa, Bhadraa, Surabhi, Susheelaa and Sumanaa came forth Vibhooti, Bhaasit, Bhasm, Kshaar, Rakshaa with the colors Kapila (yellow or off-white), black, white, grey and red respectively.
In Sanskrit, bhoothi means Aishwaryam, meaning wealth, treasure, precious. Vi-bhoothi means very or more valuable.
A person who smears Vibhuthi purifies himself from sins and also removes the sins of persons who looks at him besmeared with Vibhuthi or theeruneru. Vibhuti is the sacred ash used in religious worship. The 9 planet sticks are burned in a sacred fire (Navgraha Homa) to form Vibhuti.
It serves as a reminder to the believer to cast away selfish and worldly desires that wrap the self in maya, and calls to mind the story of how Shiva burned Kama (the god of desire) to ashes when Kama attempted to break Shiva's focus on the divine truth.