The gift is inspired by the craze for 'vajazzaling' - which is popular with stars including 'Ghost Whisperer' actress Jennifer Love Hewitt and the cast of British reality TV show 'The Only Way is Essex' - and sells for £14.99.
Lovehoney owner Neal Slateford said: "It's in patriotic red white and blue and you can wear it anywhere - making it a jubilee for your jubblies or a sparkling street party for your sexy bits.
"The whole nation is going to have one enormous party at the beginning of June and we wanted to get in on the fun.''
'The Only Way is Essex' star Maria Fowler thinks the product is a great idea and plans to wear hers on the day of the Diamond Jubilee, June 5.
She said: "It's a brilliant idea. We'll all be going on the razzle. What better way to dazzle than with your very own Majazzle.
"It will be the jewel in the crown of the Queen's celebrations."
Last year, Lovehoney released a new sex toy called the Commemorative Royal Wedding Ring to mark the nuptials of Prince William and Kate Middleton, who is now known as Catherine, the Duchess of Cambridge.