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The images I am posting here are of some round and oval beads I made recently. I used pearl clay for the core to add a bit of sparkle to the depth of these beads. The colors on these particular beads come from lightly tinted, striped translucent canes. I hope you can see the multiple layers from several translucent canes. The shine on these beads adds to the depth. Although it may be hard to see in the photo, they look almost like glass in person.
There are just too many options to list, but a quick look on Pinterest for polymer clay translucent beads should give you a feel for just some of what this clay can help you accomplish.