Back in February, we got our first peek at the 54.21-carat “Mouawad Dragon" — a fiery gemstone billed as the largest round brilliant-cut fancy vivid yellow diamond in the world. At the time, the Dubai-based luxury diamond house known as Mouawad promised to design a piece of jewelry worthy of its stunning headliner.

“We’re thrilled to have had the opportunity to craft this extraordinary diamond from the rough," noted Fred Mouawad, Co-Guardian of Mouawad’s Diamond Division. "And we will soon continue the creative process by designing a masterpiece that befits its dazzling beauty.”

On Monday, the luxury diamond house reintroduced the Mouawad Dragon as the centerpiece of a majestic necklace adorned with pear, round and marquise-shaped colorless diamonds. The Mouawad Dragon is framed by a geometric double-row sunburst of colorless diamonds.

The spectacular yellow diamond is part of a four-piece ensemble, which includes a bracelet, earrings, ring and necklace. Called the "Mouawad Dragon Suite," the pieces sparkle with five fancy vivid and deep yellow diamonds totaling more than 153 carats and 432 colorless diamonds totaling more than 272 carats.

The Mouawad Dragon was cut from a rough gem discovered in an alluvial deposit in South Africa. Mouawad’s master cutters painstakingly worked on the stone for more than six months. Their hard work paid off, as the finished piece is now one of the most revered yellow diamonds of all time.

A spokesperson for the luxury jeweler noted the name “Mouawad Dragon” reflects the vibrant color beaming from every facet of the diamond and showcases the power, wisdom and good fortune of the mystical serpent. The yellow color is also reminiscent of a dragon’s magical powers and fiery eye.

How was the Dragon Diamond Suite created? Check out this one-minute video to find out...