Source: The eHow.com article, 'What Is Liquid Silver?'
"While it appears to be made up of strands of solid, unbroken silver, liquid silver is actually made of tiny sterling silver beads. The beads are slightly elongated and oval in shape. They are strung on fine, durable beading cord. The silver beads are arranged so close together when strung that they provide the illusion of being one solid strand of silver. Because it is made of tiny beads, liquid silver has a distinctive, almost undulating quality; it flows and moves with eye-catching ease."