I was reading an interview with Danny Masterson where he talked about how he actually asked for Hyde's belt buckles to be specially made for the character, he also said in another interview that the eyeball ring and the same boots in every episode were his ideas. Why do you think he made those decisions? You can see his ear's perforations in the show, wouldn't it had been easier to have Hyde wear earrings too?
I knew about the belt buckles, he mentions something similar in that mexican interview he did a few years back in Mexico City. I didn’t knew about the boots and the ring, do you have a source? Sounds interesting.
Now your main question. I think the costume department and DM decided against the earrings because of the time the show is made. It was not only uncommon for males to wear them, but it was also dangerous as hell to get them. Same with tattoos.
And as for the boots, the ring and the rest of his clothes, don’t you feel like it suits Hyde? Because I do. Something I really love about the show is how everyone’s clothes actually fit them in more than one way. Their clothes speak a lot of who they are.
Hyde’s clothes aren’t fancy and some times they are discolored and old-looking (funny enough, until he starts dating Jackie), which tells you about his upbringing and background before he is taken by the Formans, and even then, he does dress different from the family, whose clothes are more… nice looking, to say something.
He also wears comfortable clothes that speak about his preference to easier ways and search for comfort. His home-life was his biggest discomfort since he was a kid, so the lighter he is, the better. It also speaks of his desire of not wanting to carry too much, not only because he doesn’t have much, but because he already has the world on his shoulders.
Which reminds me of something important about his outfit, his sunglasses.
The sunglasses aren’t just a cool accessory to his image. He has this hard and badass exterior that looks even cooler with his sunglasses and his big car, and all that jazz. But, in reality, the shades are there for a reason he probably didn’t tought of when he started to wear them.
I believe he started to because he is a stoner. His eyes would betray him in front of adults that may call him out for his drugged state. The glasses allow him to mantain that a secret, especially in quick sight.
But as he grow older, so did the way he put himself apart from the rest of the world, and the glasses became part of the Zen, part of his protections. He uses them to cancel the rest of the world from his, so no one will know what he truly is saying.
Some JH fans say that they like it when Hyde take off his glasses because his face, his eyes, are very expressive. Hyde doesn’t know how to act without his sunglasses, and he allows little people to know about it, Jackie being one of the few that are allowed to see him like this.
In other words, clothes are as important as any profile to create a character. It talks about their personalities, their lives and their education. And the costume department of That ‘70s Show did a great job with it and their characters.