The Baconstone, Hamethyst, and Porquoise may be a reference to the three Silmarils in J.R.R. Tolkien's Silmarillion. The Kingdom's jewels were forged by the legendary Pork Elves as the Silmarils were forged by the legendary Light Elves.
This item's name is a portmanteau of the meat "ham" and gemstone "amethyst".