Study of Peter 1 & 2: Chapter 3 Verses 1-5

 Godly Living

3 In the same way, you wives, be subject to your own husbands so that even if any of them are disobedient to the word, they may be won over without a word by the behavior of their wives, 2 as they observe your pure [a]and respectful behavior. 3 Your adornment must not be merely the external—braiding the hair, wearing gold jewelry, or putting on apparel; 4 but it should be the hidden person of the heart, with the imperishable quality of a gentle and quiet spirit, which is precious in the sight of God. 5 For in this way the holy women of former times, who hoped in God, also used to adorn themselves, being subject to their own husbands,

Verse 1

Just Like men are supposed to be subject to God, women are supposed subject to their husbands.

This is to happen even if they are not following God so that they may see a Godly example and come to God or back to God.

7 You husbands in the same way, live with your wives in an understanding way, as with someone weaker, since she is a woman; and show her honor as a fellow heir of the grace of life, so that your prayers will not be hindered. 1 Peter 3:7

Verse 2

This verse continues from verse 1.

As the Husbands observe pure and respectful behavior.

Verse 3

The New Living Translation uses the word beauty instead adornment.

So this means the beauty of the wife is not supposed on the outside 

(This doesn't mean that they are not to look nice just not overdo it).

18 On that day the Lord will take away the beauty of their anklets, headbands, crescent ornaments, Isaiah 3:18 

Verse 4

but in the heart.

It is supposed to have a gentle and quiet spirit.

This type of qualities is precious to God.

22 For I joyfully agree with the law of God in the inner person, Romans 7:22

Verse 5

This verse talks about Holy women of former times who hoped in God and used to make themselves beautiful too much to be subject to their own husbands.

5 Now she who is actually a widow and has been left alone has set her hope on God, and she continues in requests and prayers night and day. 1 Timothy 5:5