Exemplary embodiments of a ring and ring assembly are provided. In one embodiment, a ring assembly is provided having an inner ring, an outer ring having a groove within an inner portion of the outer ring that fits the inner ring, and a mechanism provided on the outer ring allowing the outer ring to be opened to place the inner ring within the outer ring. The outer ring can have an opening through which a jewel on the inner ring can project when the outer ring is closed. The outer ring can have a design that surrounds the jewel on the inner ring.