The three strands were being held together with two jump rings. I opened them up and separated everything including the small piece of chain and the clasp. I didn't use the chain but I saved it for a future use.
I wanted to combine the two similar strands to make one longer strand but I felt like it was a little too long so I removed a few beads from each strand.
I combined the two similar strands and added both the long strand and smaller one (that I didn't change) to the jump ring. I added the clasp to one side.
Then I took the small pieces and added on a earring hook to make a matching pair of earrings.
With a couple of quick changes I got two pieces from one and now I actually want to wear it!