Chipmunk told Rewind RWD magazine about the lyrics: "It’s not about being flash and spending money though; it’s more about maintaining your value.

BBC Chart Blog critically praised the song giving it 4 out of 5 stars: "It's all in that vocal swoop at the end of each line – "I gotta keep on rhyming, maaaaan" – and the conversational, soft tone of voice.

[3] Digital Spy also praised the song giving it 3 out of 5 stars: "'Diamond Rings' shows no signs of youthful naivety, however, boasting just as much pop polish as recent offerings from N-Dubz and Tinchy Stryder.

His bragging raps, "Girls see me and scream cause I'm on the TV", may be lacking in originality, but the track's breezy, ska-infused shuffle and feisty female backing vocals are infectious enough to suggest Chipmunk may have a future in the music industry.

The woman is on stage singing while Chipmunk is shown rapping in front of his backing dancers, Flawless.