The picture is actually upside down. It is real jewelry. I think it is silver plated (there are no marking to suggest it is solid silver). Those are real stones of some kind (deffinately not diamonds tho). Looking closely at the piece I can tell someone put some care into making it. The stones are mounted, not glued in place like they would be with costume jewelry. It doesn't have a hanging hook or ring. Necklace actually goes thru the charm. It is very cute. GF is getting rid of it cause she has a new butterfly charm and says she will probably never wear this one anymore.