The earrings were pieces of jewelry put on the ears made out of the finest diamonds used as a tradition started by Lionel and carried on by Lex Luthor to get rid of women and delivered by courier.
Season Four[]
Lex was at a party and hooked up with a woman named Eve Andrews, the two slept together and he woke up covered in her blood. He was framed by Shannon Bell, a former lover, to make it look like it was him. He went to destroy the evidence before the cops build a case against him. Lionel tells Clark the backstory of the earrings in prison. Shannon was going to burn Lex to death but Clark stops her and saves him by putting out the flames with a whirlwind.