If you were given a loose diamond what would you do with it?

My grandma willed each of the granddaughters a diamond from her anniversary ring. I just got my diamond earlier this week. I have thought about what I could do with it since I found out that I would be getting it. Doesn't make sense to make a ring out of it for a couple of reasons...it would likely look like an engagement ring which I already have, and I barely get a chance to wear my wedding rings from day to day because of my line of work. I thought about having a pendant made out of it, but I'm still not totally sure about that. Other than that....I could make a diamond stud earring, but then I would look silly with one diamond in one ear. I suggested to my sister a while back that we could make a pair of earrings out of our diamonds and alternate using them each month or so, she didn't like that idea too much. I know that there is no rush to do anything with it, maybe I will just hang onto it for years until I think of something fun to do with it. Maybe I could make a diamond studded collar for our puppy....or not...haha.