There are many denominations that forbid earrings, some based upon 1 Timothy 2:9-10 or 1 Peter 3:3, and others on Leviticus 19:28. Is there any merit to this?

Leviticus 19 and 20 touch on the 10 commandments, found fully in Exodus 20 and Deuteronomy 5 , as well as, summarizes additional laws the Israelites were expected to follow. In essence, this chapter's purpose is to tell the Israelites how God expected them to carry themselves and how to treat others.