Asian Necklace With Netsuke Pendant

First I thought it could be Chinese/Tibetan but the god/immortal looks more like Japanese to me. Not finding similar ones with scales on the belly. It is possible someone mixed different pieces.Cheap stones, metal and plastic beads, so probably recent.
I am not even sure what is the pendant made of and if it's hand carved at all? Don't know what are the round red beads and why are covered with clear lacquer.
Any input is welcomed. Thanks

 

It's Chinese, odds on. The blue beads are dyed magnesite, and the red ones are Chinese corals. The pendant may well be some sort of resin.

 

I also thought coral but why covered in varnish? I am still debating about the pendant, resin or hardwood. Don't see any burst bubbles.

 

The coral doesn't start out that color; it's dyed red. Some dyes can rub off, so they may have varnished it to protect it. The pendant could be wood easily.