Hip hop jewelry has been mostly inspired by the hip hop community as a whole and recently has become totally embraced by Hollywood stars and been brought into the main market to where even your grandmother would know what you meant by "bling bling".
One of the most surprising elements to the phenomenon is that it's considered a new thing or even a 90's style that has flown over but it's not. We all can remember back in the 80's flava flav flashing a huge clock around his neck and replacing his natural smile with gold. The hip hop and rap culture had been promoting this for decades prior and now it suddenly is mainstream.
A theory on urban fashion jewelry would be that Hollywood has been embracing the urban culture more and more over the years and upon rap becoming more and more mainstream to the extent of when you turn on MTV you no longer have a daily hour segment to rap videos after the hours of rock n 'roll or alternative music, but rather a total reversal where you've been hard pressed to find any rock videos or anything along hip hop or rap.
So the rap culture would seem to not have changed at all but rather society has embraced it more. Parents shocked at the lyrics sang by fifty-cent and Eminem apparently had never heard the music of NWA in the 80's and some of the rappers then whom were absolutely preaching the same if not more indulging of the urban culture.
Hip hop jewelry and bling bling as it was but the exact same expression of this culture that exemplifies the success of the hip hop culture and which artist has made the most and who has come up in what is seen as an oppressed inner city lifestyle where it is harder to "make it" than a wealthy "well to do" culture.
So the bling bling is definitely here to stay as long as our society has rap and hip hop ant the forefront of our media and culture. Hip hop jewelry is part of the culture and is absolutely nothing new, the only thing new is that hip hop is mainstream and that rap artist are not just icons to inner city youth but now to every suburb around the globe in the western world.