The Giant Madagascar Hissing Cockroach Brooch is a live cockroach encrusted with Swarovski crystals (I'm sure the cockroaches like that). Anyway, for $80, you can get an exotic cockroach to crawl all over you while you scoff at your friends for being caught in 2005 (and thus, lacking live jewelry).
Black Chandelier describes, "These insects come in varied patterns and are decorated with the finest Austrian Swarovski crystal. Each roach takes about an hour of painstaking work to achieve his final magical glory. All roaches are male to ensure sterility, and come complete with a leash set."
Are you brave enough for live jewelry?