Version 1: Pinch your earlobe once.
Version 2: Pinch your earlobe (gently) twice.
Usage note: If I'm just mentioning that someone has an earring I will likely only pinch the lobe once. If I'm discussing the topic of earrings and ear piercing and need to make distinctions between the two concepts then I'll use a double movement for earring and a single, larger, emphasized movement for "ear piercing."
EARRING:
EARRING: animated
Note: If you want to specifically indicate the plural form of earrings then you should do this sign with two hands (one on each earlobe).
