Loved this project, so when it got rainy here (not too common in southern California), I had to try it! I love the rain and now I can remember it any time.
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Made with two layers of white craft foam, glued together with hot glue, and lightly dappled with silver acrylic craft paint (which looks rainier to me than plain white). The eye pins are sandwiched in between the two layers. They're crooked so they can't slide out of the hot glue. I had all the materials, so it didn't cost anything.
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To give credit where it's due, here's the first version of this necklace on CO+K, published two years ago, though there's no tutorial: http://www.cutoutandkeep.net/projects/rainy-day-necklace