I hope you're referring to soring, and not to me wanting to put decorations on my horses legs? :/
I think what you are wanting are "rhythm beads" Rhythm Beads! Horse Tack and Supplies!
While the ones on this link go around the neck, it is really easy to make your own and make them for the legs.
Sleigh horses wore them originally.
Folks say the rhythm beads do help the horse keep cadence.
I tried them once on one of my horses and he did his best dip and spin ever when he saw the neighbor's red pickup truck come around the hairpin curve on our road because he couldn't hear the truck for the rhythm beads.
When making your own, you just have to make sure that:'
1. The bells are spaced equally apart on both sides of the leather you attach them to.
2. If you use different sized bells, be sure the sizes are spaced equally on both sides of the leather.
Hope this helps.
Personally, I would not use chains "just for decoration". I'm guessing you would see many folks take your use of those chains in the wrong context which would, in turn, upset you and cause you to have to do much un-needed explaining -------it's not worth it