If pearls still conjure up images of debutantes and Barbara Bush, think again. The gemstone has ditched its conservative crowd for the cool kids. Designers have rediscovered them but with contemporary styling: organic elements such as Baroque shapes, complementary jewels for fun color combinations like pink sapphires, and everyday settings from macramé to bangle bracelets that are just as home on the beach as the ballroom. Layer them on, too, taking a cue from Chanel’s signature strands, though hers were—gasp—costume jewelry. Why fake it when you can drape the real deal?