Abstract: An ornamental necklace made up of annular members in combination with beadlike elements wherein the annular members are disposed in alternating overlapping relation together with stringing means or the like for maintaining the annular members in their overlapping relation; the beadlike elements being disposed within and/or between successive annular members in the stringing means and concealing such stringing means, the relationship of the beadlike elements and the annular members being such that the necklace may be worn to expose either side thereof to thereby provide alternative ornamental effects.