What wrinkle in the Zeitgeist put toe rings front and center? One popular theory is that they’re the newest incarnation of the haute hippie look–a fashion trend that spawned everything from $4,000 feathered jeans to Indian-inspired designer bindi dots on foreheads. (Like bindi dots, toe rings originated in India, where they are called bichiyas and were traditionally worn by women as a symbol of marriage.) But vanity probably plays a big part too. “When you spend $300 on your shoes and $50 on your pedicure, you want to do something to really set them off,” says CariDawn Isolano, 34, a toe-ring designer and longtime devotee. “And the best part is, you don’t have to pierce anything to make a statement.” Except maybe your wallet.