Ruby signifies passion and unbridled, unrestrained love, making a pair of ruby earrings a perfect Valentine's day gift. A pair of peridot earrings sparkle by day, and remain brilliant at night. The Romans called peridot the “evening emerald†whose vibrant green color remained visible by lamplight. White topaz is a popular substitute for the birthstone of April, which is diamond. A pair of white topaz earrings is an affordable alternative to expensive diamond studs.