depends on what the led's are rated for and how well it was manufactured. i've had radioshack brand 2 volt 5mm clear yellow (more amber than yellow) led's burnout at like 2.5 volts. the 5mm 2600mcd clear blue leds have survived 12 volts even though they're rated for like 3.7 volts or something like that
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Friends (Joey's Bag)
Rachel: Exactly! Unisex!
Joey: Maybe you need sex. I had sex a couple days ago.
Rachel: No! No Joey! U-N-I-sex.
Joey: Well, I ain't gonna say no to that.