The padlock necklace was first seen in the punk subculture by sid vicious who's girlfriend put a chain and lock around his neck then proceeded to throw away the key as a sign of sid belonging to her. It has then been passed along through communities based on it's overall coolness and trend in style.
Alex:" Oh you have a padlock necklace on?"

Dave:"yeah my girlfriend put it on me. She thought it would be really cool for us to do since we're both into punk rock"

Alex:"that's really cool man!"
by Gloved June 29, 2022
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Was once a sign that someone belonged to the BDSM community but has do been popularized by the Alt community.
"Are you into _?"
"No, why?"

"Oh you're wearing a padlock necklace."
by Krose__9560 July 1, 2021
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