Anything that is hanging could be said to be a type of pendant,
early 14c., pendaunt, "loose, hanging part of anything," whether ornamental or useful, from Anglo-French pendaunt (c. 1300), Old French pendant (13c.), noun uses of the present-participle adjective from pendre "to hang," from Latin pendere "to hang," from PIE *(s)pend-, extended form of root *(s)pen- "to draw, stretch, spin." [OE]
So, ornaments are pendants.
Here is a pendulous man on a "pendant," hanging on a tree. Ornaments are like fruit in that they are hung from a tree, but what is the fruitfulness of the Hanged Man?
He is not just hanging, he is hanging upside-down. He isn't hanged by the neck dead, but he is stuck. He can't do much physically from this position and it isn't comfortable either.
Since the runes' native home is the well of Urd with the Norns, and since the runes do not reveal themselves to any but those who prove themselves worthy of such fearful insights and abilities, Odin hung himself from a branch of Yggdrasil, pierced himself with his spear, and peered downward into the shadowy waters below. He forbade any of the other gods to grant him the slightest aid, not even a sip of water. And he stared downward, and stared downward, and he called to the runes. —Odin's Discovery of the Runes - Norse Mythology for Smart People
137.I trow hung on that windy Treenine whole days and nights,stabbed with a spear, offered to Odin,myself to mine own self given,high on that Tree of which none hath heardfrom what roots it rises to heaven.138.None refreshed me ever with food or drink,I peered right down in the deep;crying aloud I lifted the Runesthen back I fell from thence. —Hávamál, The Words of Odin the High One from the Elder Edda, translated by Olive Bray
Middle English stode "pillar, prop, post, upright timber used as support," from Proto-Germanic *stud- (source also of Old Norse stoð "staff, stick"[OE]
Old English hengest "horse, stallion, gelding," from Proto-Germanic *hangistas (source also of Old Frisian hengst, Dutch hengest, German Hengst "stallion") [OE]
Greek drakon "serpent, giant seafish," apparently from drak-, strong aorist stem of derkesthai "to see clearly," from PIE *derk- "to see"
Lovers and madmen have such seething brains,Such shaping fantasies, that apprehendMore than cool reason ever comprehends.The lunatic, the lover and the poetAre of imagination all compact:One sees more devils than vast hell can hold,That is, madman: the lover, all as frantic,Sees Helen's beauty in a brow of Egypt:The poet's eye, in fine frenzy rolling,Doth glance from heaven to earth, from earth to heaven;And as imagination bodies forthThe forms of things unknown, the poet's penTurns them to shapes and gives to airy nothingA local habitation and a name.— Shakespeare, A Midsummer Night's Dream
And he would have appeared just plane colgado in his "Eureka" moment, as he said, "crying aloud [æpandi "shrieking"] I lifted the Runes then fell from thence." I don't want to name any names, but lots of people have been called "crazy" for being excited (Nudy-Butt Archimedes, Rebel Yell Howard Dean, Couch Jumping Tom Cruise). The latter of those were figuratively hanged for their antics, and the former was actually killed.
After the Romas successfully captured the city in 212 B.C., Archimedes was killed by a Roman soldier after he allegedly told the soldier, "Don't disturb my circles"—a reference to a series of figures Archemedes had outlined in the sand. Who was Archemedes, NOVA, pbs.org
So we could say Archimedes was literally killed for being loopy, i.e., drawing "loops." And that which is similar to a circle or loop is a bend. We might describe Odin as being a bit bent. He was bent on learning the secret of the Runes. The Hanged Man is traditionally shown bent or with one leg bent at and angle. And to be hanged is to be bent low or humbled, like another god man who hung on a gallows,
The Roman gallows was the cross, and, in the older translations of the Bible, gallows was used to describe the cross upon which Jesus was crucified (Ulfilas uses the term galga in his Gothic Testament. —gallows, Brittanica.com
"For God knows that when you eat it your eyes will be opened, and you will be like God, knowing[i.e., having the lived experience of] good[what is pleasant] and evil[what is adverse]."Gen. 3:5
When the woman saw that the fruit of the tree was good for food and pleasing to the eye, and also desirable for gaining wisdom, she took some and ate it. She also gave some to her husband, who was with her, and he ate it. Genesis 3:6