A jewelry apparatus. The jewelry apparatus may be adapted to serve as practically any type of jewelry, but is best suited for use as a pendant or a broach. A shaft portion may be removably attached to a base piece by means of a slotted locking member. The shaft piece is used to carry ornamental elements, such as decorative beads or precious or semi-precious stones. The ornamental elements may be permanently affixed to the shaft, or most desirably may be slipped onto the shaft so as to be interchangeable. Accordingly, the invention permits a user to change the ornamental elements by removing the shaft from the base piece and selectively interchanging the ornamental elements and then replacing the shaft upon the base piece. Alternatively, the entire shaft with ornamental elements thereon may be selectively replaced. In either case, a single base piece is used, allowing the user to change the overall appearance of the jewelry apparatus to customize it to occasion or apparel, two security features are provided to assure that the shaft cannot accidentally be removed from the base piece to result in the loss of the ornamental elements.