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Mechanism (1) that allows the user to replace interchangeable heads (2) of decorative and functional elements, of different sizes and designs, which shape the modular structure and image of the products in which this mechanism (1) is embedded, applies to the jewelry, fashion and smart wearables industries. The mechanism (1) comprises: an interchangeable head (2), a lug (3), forming part of the interchangeable head (2), a cover (4), a spring cover (5), a spring (6), a main body (7) of the mechanism (1) the geometry of which bears a cover recess (12) in the shape of the cover (4), two locking positions (10,11) of the lug (3) of which the second one defines the end-position (17) of the permitted movement of the lug (3) and the base (8) which is located at the bottom of the mechanism (1).