what is the punishment? can i be punished for wearing it? is it makruh? is it sinful?
Asalaam o alaikum, the only reports available concern gold in any form, and silver in vessel form. It would then be upon you to consider what you see in Quran and Hadith. It might be better to stay away from such silver and deffinantly gold. For Jannah will be in abumdance of such things made of gold and silver. Why then try to imitate Jannah here??? Regarding punishment, ask Allah for forgiveness and promise never to wear it again.
"Whosoever drinks from a vessel made of silver, he has indeed dragged the fire of Hell into his stomach." (Al-Bukhari no. 5634 and Muslim no. 2065)
"Don't drink from vessels made from gold or silver and don't eat from their pots, for these are for them (disbelievers) in this world, and for us in the Hereafter." (Al-Bukhari no. 5426 and Muslim no. 2067)
"Gold and silk are permitted for the women of my nation, prohibited for its men." (An-Nasa'i no. 5151, At-Tirmithi no. 1720 and Ahmad 4/394, 407) The answer is as follows: For men to wear gold is unlawful, regardless whether it is a ring, a watch, a cufflink, or even a tooth.
This is due to what is reported by Al-Bukhari and Muslim in their Sahihs from Al-Bara bin 'Azib, may Allaah be pleased with him, said, "The Messenger of Allaah (sallAllaahu `alayhi wa sallam) ordered us with seven and forbade us from seven, he forbade us from wearing gold rings, from drinking with silver (vessels)."