Am I wearing the right size belly bar?

Go to bodysparkle.com, it's a great site. They have a size chart so that you can measure your current barbell and compare with how you want it to fit, and they've got tons of custom jewelry. I think it looks like it fits, you do need a little extra room so that it doesn't pinch when you move around, but you could probably go a little shorter if you'll like the way it looks better.