um, I don't think those choices are exactly apples to apples, know what I mean? He was joking....right??
So..my husband said I could have...
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OH!!! OK I see....I just read your post a few messages up. This was a much deeper post than a simple "pick a jewel - A, B, or C." 
Mimster hit it on the nose! But if your DH wants another child, he will certainly NOT say "no" if you've already purchased the bracelet. He will damn you for being sneaky enough to get what you want, but he wouldn't say no to the child. As for the dog, I agree that if you are busy already (especially if you are considering another child), then it would be unfair to the puppy. Puppies take time to train well, and if you aren't a dog person, then it isn't fair to put that burden on you. If I were you, I'd very much consider whether I wanted another child and do that first. Then when your oldest is responsible enough to train and take care of a puppy you can tackle the dog issue (with help).
And while I'd never encourage anyone who did not want children to have them (it is a deeply personal decision and the best decision for some people is not to have children), I do have three and I don't regret it at all. Somehow, three adds a dynamic to the family that two does not. At first glance it might seem to add conflict, but the kids learn a LOT in terms of compromise and taking turns and being kind to one another and other people skills. If you are a great parent to two and have any doubt at all, I would have the third. Granted, it is a decision you cannot take back either way, but you already know that you love the children you have and that your DH would welcome another. If you feel up to it, in your situation I would have a third.
And while I'd never encourage anyone who did not want children to have them (it is a deeply personal decision and the best decision for some people is not to have children), I do have three and I don't regret it at all. Somehow, three adds a dynamic to the family that two does not. At first glance it might seem to add conflict, but the kids learn a LOT in terms of compromise and taking turns and being kind to one another and other people skills. If you are a great parent to two and have any doubt at all, I would have the third. Granted, it is a decision you cannot take back either way, but you already know that you love the children you have and that your DH would welcome another. If you feel up to it, in your situation I would have a third.
Not in our house. The three of us want to kill each other and none of us is willing to compromise. At all. We do not share well.
I vote for the dog or the bracelet. Then ask for whichever you don't get now as a Christmas present. I'm an animal person, so if it were me I'd be asking for the dog first. But gold keeps going up all the time, so who knows what it will cost if you decide to get a new Love bracelet later down the road.
How did I not think of this?!?! LOVE it. I agree with the rest of what you said though. I think I lean most towards baby.
My husband is one of three and he disliked that. Chances are if I have three, he'll push for four..lol. I really wish I was younger. If I could have started this whole baby thing at say 25, maybe it wouldn't seem so daugnting.
Hm yes, I agree with HauteMama and Mim - you can easily get both the love bracelet and have a baby without compromising the other 
The dog can always come later!
The dog can always come later!
The bracelet, with diamonds. I'm sorry if I sound cold hearted but the love bracelet needs 0 energy and commitment and will never even need a shot, baby/dog sitting, planning around it before a trip, and it is replaceable. Plus it look damn good all the time, and you can take it everywhere with you. The dog might turn out to be sick or aggressive and menacing to your children. A child might have serious problems that will definitely cost more than a bracelet in the long run.
An odd ultimatum only a guy could ever think off...
Babies and puppies should be taken a bit more seriously, they are not gifts. And you should rarely base your decisions on what you say to people, you have nothing to prove, or apologize for your decisions. I always say I will never get another dog EVER after the pain I went through when my last one died but I don't even know what will happen in the future.
An odd ultimatum only a guy could ever think off...
Babies and puppies should be taken a bit more seriously, they are not gifts. And you should rarely base your decisions on what you say to people, you have nothing to prove, or apologize for your decisions. I always say I will never get another dog EVER after the pain I went through when my last one died but I don't even know what will happen in the future.