I should add that MIL already has a pair of pearl studs. She''ll probably not wear either of these regularly. It''s more likely to be worn for special occasions.
I voted for "find something else", because the stone in choice #1 is too dark for my lliking, and I do not care about pearl for a ring (easily damaged). I would not be pleased if I receive these for Mother Day''s gift. There is also concern about returns and restriction of store credit. I prefer that my children take me to a jewelry store, so I can choose what I like best (given a budget).