Pearls come in eight basic shapes: round, semi-round, button, drop, pear, oval, baroque, circled and double bouldered. Perfectly round pearls are the rarest and most valuable shape. Semi-rounds are also used in necklaces or in pieces where the shape of the pearl can be disguised to look like it is a perfectly round pearl. Button pearls are like a slightly flattened round pearl and can also make a necklace, but are more often used in single pendants or earrings where the back half of the pearl is covered, making it look like a larger, rounder pearl..