Now what does that thing in the center of the table look like to you? There is no way that could be a bracelet that would fit on any humans wrist. So if it's too small to be a bracelet or anklet for a human and to large to be one for fairies, then what is it? IT'S A MOTHER-blam!-ING SET OF ANAL BEADS. Obviously it's too small for humans. So it must be for the fairies. I mean really? Those things are massive. That's just ridiculous. If they were a little smaller people would have noticed but they were easily concealed by making them comically large so you would pass them off as a bracelet or something, but if you really pay attention to the size of the fairies compared to the humans, you can tell that the thing is way too disproportionate to be any type of fashion accessory for humans.
So it must be something else. The answer. It's a sex toy for fairies. Just a really big one. Tink must have a lot of experience. I can't believe no one noticed this before. Just look at the awe they have on their faces. They must be planning an orgy or something! That's just nasty, Disney. Sorry if I damaged your childhood. I just had to get this outrage out there.......
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Or it's just a broken piece of a bracelet.