An article of jewelry is disclosed wherein a stretchable filament is threaded through or otherwise attached to a desired number of ornaments and maintained in loop form by a knot tied in the filament. The filament is formed of a material that may be stretched between two extremes: a minimally stretched length and a fully stretched length. The filament further has a relaxed length that is less than the fully stretched length. The filament is selectively adjustable in that the relaxed length may be adjusted upward but not downward. Also disclosed is a method for tying a symmetric, sturdy knot in the stretchable filament that includes the step of simultaneously pulling with substantially equal force on each of the trailing ends exiting the knot in such a way that a portion of the filament including the knot is stretched to or almost to its fully stretched length.