Choice 1. The other woman might love the earings.
Choice 2. The other woman might think the earings are ridiculous. I stereotype Southerners (in America) doing that sort of thing, but I actually don’t think the majority of Southerners do this kind of backhanded compliment. I think most people everywhere say nothing if they don’t like your fashion taste.
Choice 3. She might love the other women and give her compliments to make her feel good. As women age the compliments usually get fewer and fewer, especially from men, so girlfriends help us continue to feel good about ourselves. You can say real friends tell us their honest opinions, but also sometimes real friends tell us we look hot, gorgeous, and a myriad of compliments to bolster our mood, confidence, and ego. They won’t say something looks great when they think it’s awful, but they might exaggerate their adoration of a fashion the other is sporting that day.
I think of the three, number one happens the most.