Arracadas refers to a specific type of earring, typically large hoop earrings, often with intricate designs. It's a more specific and evocative word than the general "aretes" (earrings).
In the song, Sabino lists various items that remind him of his ex-partner, and "tus arracadas" (your hoop earrings) stands out as a unique and personal detail. It paints a vivid picture of her style and adds a touch of specificity to his nostalgic reflections.
Sabino's "Película" is a really interesting take on a breakup song. Instead of just being sad, it's almost like the singer is trying to erase the relationship by meticulously listing everything his ex should take with her. He's like, "Ahora que te vas, no quiero que se te olvide nada" [Now that you're leaving, I don't want you to forget anything]. He wants her to grab everything: her lamp, her pillow, the nuts in the jar, even her nail polish that he likes! It's a bit funny how specific he gets, even mentioning "tu ropa apretada tu falda morada" [your tight clothes, your purple skirt] and "tus labios brillosos y tus arracadas" [your shiny lips and your hoop earrings].
But beneath all the stuff, you can feel the hurt. He keeps repeating, "Llévate cada vez que dijiste que me amas" [Take every time you said you loved me], because he knows now it wasn't true. He's clearly confused and betrayed, asking, "Tú no me amas ¿que onda contigo?" [You don't love me, what's up with you?]. The song ends with him wanting to forget it all, saying, "Película fue lo que vivimos bebé, y esa película fue, yo ya no la quiero ver" [What we lived was a movie, baby, and that movie, I don't want to see it anymore]. He even tells her to take the DVD so he doesn't have to see it again. It's a really clever way to express the pain of a breakup, by trying to literally clear out all the memories.