There's a pattern for some pretty earrings in the latest Knitty. The design, by Sarah Punderson, is called Coralie. The yarn used is made of stainless steel and silk, so although it is soft and flexible enough to knit, the finished bit of work holds its shape well.
I had a go at making Coralie:
Click on the r to go to my ravelry project page for Coralie (login needed).
I enjoyed making these, and am pleased with the result so, as I have a whole cone of the yarn, I'll try some variations on these and also try a design or two of my own.