It takes me about two hours to make one of the plush squidlets (I'm not sure what you mean by "necklace"). Roughly: 20 minutes to cut the pieces, 10 minutes of machine stitching, 15 minutes to shred fabric scraps for stuffing, an hour and a quarter of hand-stitching. I could save a bit of time by using some other stuffing, but shredded fabric has a good feel and weight.

There might be some faster way to shred the fabric scraps, and about half of the hand-stitching could be done on a machine with a somewhat smaller presser-foot setup than mine has.