The sport's governing body last week unveiled eight armbands with social messages captains are able to wear during the tournament in Australia.
Kerr was not expecting to be able to wear the rainbow armband, so FIFA's decision has not come as shock to the Australian captain.
"We would love to wear them," the Matildas superstar said on Monday.
"Like most of the teams in the whole world, everyone has voiced that they would love to wear it."
However, Kerr believed the risk of picking up a yellow card for wearing the armband was too great.
England men's captain Harry Kane abandoned the idea of wearing the OneLove armband at last year's men's World Cup in Qatar due to fears he could earn an instant booking.
"You saw with the men's World Cup, Harry Kane, for example, first game if he had have worn it, (he would have received) a yellow card; he got a yellow card in the game, so he would have been sent off," Kerr said.
"It's not worth the risk; putting the team at risk, putting the tournament at risk, putting everything at risk.
"There will be multiple opportunities where we get to use our voice and there'll be multiple opportunities where I get to use my voice for things."
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