Lil Yachty Iced Out for Kentucky Derby With $90K Custom Chain, on Video

Lil Yachty doesn’t need a fancy hat for the Kentucky Derby … he’s got a new $90K chain for the occasion.

A rep for the rapper tells TMZ … jeweler Erin Barnett hand-delivered the expensive ice — a custom diamond chain and racehorse pendant — at SoCal’s Santa Anita racetrack on Derby Day.

Yachty was flashing the new bling at an owners-only party for Run Fast Racing app users on Saturday.

He’s a partner of the Run Fast Facing app — where fans can co-own racehorses and make money when they win. Yachty owns 16 horses himself.

And he’s not the only celeb involved with the app … Rauw Alejandro and Lil Wayne are also partners.