The belt with interchangeable accessories is formed of a soft, resilient elastomer and includes a series of notches along its upper and lower edges. An accessory or accessories is/are adapted for removable and interchangeable installation on the belt. Each accessory has a pair of elastic loops extending from the back thereof. Each loop passes through corresponding notches of the belt to secure the accessory removably to the belt. The accessories may comprise a large number of different configurations, e.g., two-dimensional and three-dimensional representations, storage compartments for makeup or other purposes, mirrors or other reflective surfaces, electrically lighted displays, etc. A removable buckle is provided. The rearward portion of the buckle has a passage therethrough, the passage gripping one end of the belt therein. The overlying portion of the buckle has a channel and openable cover for removably securing the opposite end of the belt in the resulting passage.