Did you see what CARRIE UNDERWOOD was wearing at the Grammy's?  HOLY COW! She walked the red carpet wearing a $31 million necklace!

For those who care about such things: It's an oval, pear, marquise and white diamond necklace and it's 381 carats. It was designed by some big shot Beverly Hills jeweler named Johnathon Arndt.

Carrie tried to sound humbled by it but really, then why wear the damn thing? She told E!, 'It's heavy on my soul. I'm afraid someone is going to tackle me and steal it. It's worth more than me.'

I don't know about you, but I couldn't wear something that expensive.  I'd be afraid I'd lose it or break it.