If you're up for doing something a bit different, there's no reason your pledge jewelry has to be a pin.
My chapter started out as a local sorority, Sigma Iota Phi. The founders decided to create a pledge ring instead of a pin. Most GLOs use pins, but our founders wanted to do something different. Our colors were green and purple, and our gem was the amethyst, so the ring was a silver band with an amethyst flanked by two malachite beads. We were required to wear our rings at all times during pledging. After initiation, we kept our rings and were free to wear them any time we wished except during a subsequent class's pledge period. I still have my ring and wear it occasionally.
The mother of one of our founders is a jewelry designer, so she made up our pledge rings, at cost IIRC. She also created our badges.
Just another idea for you to think about.