Rap music, hip hop jewellery and the whole hip hop lifestyle as a whole used to be an idealism that was repulsed by society because of the way it was perceived to change everything in the mid-1960's. Figaro chains in jewellery emerged as a response to this kind of reaction to the hip hop lifestyle.
From way back during the era of Run DMC, they wore oversized dookie figaro chains. When it was 2Pac's time in the 90's, he started wearing the famous herringbone gold figaro chain with the revolver pendant he had made customized for himself only. Today, the figaro chains have had a comeback, and celebrities in Hollywood are all wearing them, as well as the fans who have a wide variety of "bling" resources available to them today.
This kind of jewellery has sustained its popularity ever since the hip hop culture was born basically because of the different things it symbolizes. It represents the lifestyle of wealth and luxury that celebrities live today. It symbolizes success for anybody who can afford to buy such things. Having one means that you're doing something good with your job.
For most people, having a piece of this jewellery would signify a personal achievement or a milestone in life such as graduating, getting married, having kids, hitting record sales, etc. For others, it reminds them of how they struggled from meager living in shelters to the way they live now. Lots of celebrities started this way and having these necklaces and bracelets reminds them of how they worked hard to get to where they are now. The jewellery not only shows off what one has, but it tells a story of how that person came to live that way.