When I was younger I did. Male. I used to wear a silver ring on my hand, and what I've always called a Bajoran earring from DS9(the earring that has a chain linked to a clamp, and the clamp attaches to the top curve of your ear). I used to also wear various necklaces, from a stainless steel bead chain that made for an awesome improvisational whip (albeit short). To a hand made necklace a friend made, of my zodiac. It represents the entire zodiac orbit, and each segment she made, represented that place in the sky. I had her put the various planets in the proper regions of the sky they were in at my birth, and the center point, was a medallion with Libra on it. I never believed in the zodiac stuff, but I did like the idea of a celestial oriented necklace, that was unique to me (and everyone else born that day).
When I wore most of that jewelry, it was for my own enjoyment. The earring was during an experimental phase (I was literally running a social experiment), more than anything else. At the time (early 20's for me), I decided to see how people would react to me dressing "out of type", for a tall, athletic, heterosexual male. I'm 6ft 4inches, and at the time, very thin and athletic. I also had long hair that I wore in a topknot most days. So, i started wearing fingernail polish, that chain earring, and occasionally eye liner and lipstick. Partly because I did think the coloring looked cool, but mostly just to see how many people asked me if I was either a:
1. ******
or
2. Fan of Marilyn Manson
This was during the 90's, so it was more relevant then.
I also only used hot pink lighters for my cigarettes and pot smoking, to see how many people freaked out about my "gay lighter" (sadly quite a lot). It amused me to see how many people made some huge assumptions about who I was, simply based on a bit of coloring, in specific locations. I'd still wear regular clothing for a typical straight guy of the time, baggy jeans/cargo pants, baggy shirts, typical semi-grunge look.
Since then, now that I'm 40, I don't bother with any of that anymore. Mostly because I got my answer, in that a lot (not all) of people really are that superficial, but also because of my job. Can't dress like that at my place of employment, so I don't. Though if one of my god daughters asked me if they could paint my nails, I wouldn't bat an eyelash about it and let them go at it.
My default state of being is relatively silly, so I'm usually willing to do whatever if it gets a laugh out of people.