And there are hopes its arrival can lead to talks about the permanent return of culturally significant items.
The necklace, on display in the Tasmanian Museum and Art Gallery (TMAG) in Hobart, was collected from the island and sent to England some time before 1834.
It was bought by Chicago's Field Museum from a British collector in 1958 along with about 200 items from Tasmania, also known by the Indigenous name lutruwita.
Pakana man and artist Andrew Gall has created a kangaroo skin necklace to sit alongside the original, which is thought to have been made from plant fibre.
He said the return of the necklace, which is on loan for two years to TMAG, was "incredibly important".
"This is culture that has been taken away," he said on Wednesday.
"Its journey had stopped until it came back home. It is home and its journey starts again."
The accompanying necklace made by Mr Gall contains a breast plate, his way of indicating the original was held against its will.
"We've got two years to change their minds (about the necklace going back to America when the loan finishes). Nothing is ever fixed," he said.
"Let us look after our own, let the cultural belongings stay with (their) people."
TMAG director Mary Mulcahy indicated there would be open conversation with institutions, including the Field Museum, to see whether items could be repatriated back to Tasmania.
"It's not TMAG's role to ask for repatriation ... it's actually the community's role," she said.
"Without a keeping place (for the necklace), that can potentially be a bit challenging. One thing TMAG is interested in, is what role can we play to support the community."
The necklace, on display among a dozen Indigenous culturally significant items returned from overseas, travelled from America with special handling measures.
"This is the only necklace like this that we are aware of in the world. It's a pretty significant object," Ms Mulcahy said.
She said the necklace looks like one worn in artworks portraying Wurati, a Nuennone man from Bruny Island who died in 1842.
Wurati was one of more than 100 Tasmanian Indigenous people exiled to Flinders Island. He refused to adopt European diet or dress.
The necklace could be examined by a non-invasive MRI scan to determine what it is made of and how it was constructed.
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