A phrase created by Weezy F. Baby (Lil Wayne)resembling the imaginary sound of a sparkling Diamond.
The song "Bling Bling" can be found in the album "Chopper City in the Ghetto" released in 1999 by B.G. featuring cashmoney members including Lil wayne who sings the chorus "Bling Bling". Since then, this phrase has been popular in the hip-hop culture.

Wet Ass Pussy

wealth, usually in the form of jewelry or flashy merchandise; can also be used to indicate money

Gawdy jewelry and such. Usually gold.

n. synonym for expensive, often flashy jewelry sported mostly by African American hip-hop artists and middle class Caucasian adolescents.

v. to "bling-bling;" the act of sporting jewelry of a highly extravagant gaudy nature.

the black mans way of saying daimonds, white gold or anytin that is quite shiny
various rolex can be called bling bling

the noise on mario when he grabs the golden coins.