First of all, jewelry can be used for any occasion, celebration or even an event. On celebrations, if you use a bracelet from the culture that you're from, it shows how you respect and admire your culture. On an occasion, you can wear jewellery if you want to, just as long as it's appropriate, as for any other event. If you want to use it, its fine, as long as it's by the rules of that type of event, occasion, etc.
It depends on where you are from. Some countries like to use b as some kind of appreciation for their culture, and some countries use jewelry as part of their celebration.