Singer says "belly button" right near the start, and you get several shots of this insanely gorgeous woman's (unfortunately pierced) belly button throughout. Toward the end, though, she bares her stomach without the piercing, so it's worth it! :D
31th second. It looks like a fake piercing pinching her outie.
That model is Amy Weber, who was part of the WWE for like six months. She has an outie, and I'm 100% sure that ring is a clip-on. They could have gone without it for the whole video, but they clearly weren't directing the video with navel fetishists in mind.