The ability to reference objects in the environment is a key communication skill that robots need for complex, task-oriented human-robot collaborations. In this paper we explore the use of projections, which are a powerful communication channel for robot-to-human information transfer as they allow for situated, instantaneous, and parallelized visual referencing. We focus on the question of what makes a good projection for referencing a target object. To that end, we mathematically formulatelegibility of projections intended to reference an object, and propose alternative arrow-object match functions for optimally computing the placement of an arrow to indicate a target object in a cluttered scene. We implement our approach on a PR2 robot with a head-mounted projector. Through an online (48 participants) and an in-person (12 participants) user study we validate the effectiveness of our approach, identify the types of scenes where projections may fail, and characterize the differences between alternative match functions.