Possibly a matching piece from the same set of jewels as the bracelet? The colour, shape and size of the gem seems a perfect match.
And another well known bracelet of a very similar design, the saphire set gifted by the saudi king to the late princess Diana.
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I actually believe several princesses/queens of the new generation have also received lavish jewelry gifts from Midlle Eastern royals. Perhaps they find the pieces too grand or ostentatious to be worn frequently, or sometimes showing such gifts could be a sort of embaressment diplomatically speaking...
We certainly know that the late Queen Elizabeth received several of these gifts, as the then Duchess of Cornwall, as did Queen Sofia, Queen Margrethe, Queen Silvia ...
Recently Queen Letizia was gifted a pair of beautiful diamond earrings (at least...) by the Qatary royals and she has several large jewelry pieces, mainly rubi and saphire earrings, that I would definately think are Midlle Eastern gifts, so I would not find it unusual that the future Queen of Denmark has received such jewelry gifts at some point, probably as wedding gifts.
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