An adjustable ring according to one embodiment of the present invention includes a ring portion having an outer surface and an inner surface defining an opening for receiving a finger therethrough; a movable segment coupled to the ring portion and movable between a first position and a second position; and a spring element coupled to the ring portion and the movable segment to allow movement of the movable segment between the first position and the second position. According to another embodiment of the present invention, the adjustable ring further includes an insert portion coupled to an inner surface of the ring portion, the insert portion having an opening; and the movable segment coupled to the insert portion and having a surface movable through the insert portion opening.