STONE: Labradorite with Due Painted Floating Bail
CHAIN AND CLOSURE: Leather cord with adjustable double slip-knot closure.
These floating bails have been made using a technique called fire painting! Copper (or copper electroplated brass) oxidizes when exposed to heat, causing a pretty colorful patina! They have been sealed to protect the surface oxidation.
Labradorite is a feldspar.
The flashes of color is caused by the interuption of light beams at various mineral layers. It's called blue adularescence.
Basically, as the feldspar is forming, various types of feldspar cool at different rates, creating layers. These different layers interact/interupt light passing through and scatter it, causing the flash! (Remember, white light is the amalgamation of all visible colors. In the case of this moonstone, only some of the spectrum is able to escape the layers!)