"That nigga was talkin' out his necklace" - Dej Loaf
Speaking out of line by assuming his worth allowed it.

"Damn, son! That's a lot of necklace"
Meaning money or commenting on the price or affordability of a product/service (i.e. bling,necklace)
Or simply the amount of necklaces someone is wearing.

"I ain't got the necklace fa that!"
Referring to to either not having the balls/means to do/afford something.

"Did you see that necklace? I aint fucking with him"
Gang affiliated reference. Not wanting to start trouble. Lacking balls or being smart