Cubic Zirconia 
Cubic Zirconia is by far the best diamond substitute.
When it is well cut it can rival diamond for brilliance and beauty
yet is a fraction of the price.
The cubic zirconia used in jewelry is the lab grown couterpart
to natural cubic zirconia, which is very rare. It forms in the
cubic crystaline formation which it shares with diamond. It's
hardness is 7. This means that CZ has the same durability as stones
like amethyst and garnet.