Abstract: A ring of the type adapted to worn on a person's finger is comprised of three distinct ring members. Two of the ring members are engageable for capturing the third ring member and are disengageable to allow the removal and replacement of one or more of the ring members. In one embodiment, a first ring member has substantially cylindrical first and second portions, the second portion being enlarged radially with respect to the first portion to define a first shoulder between the first and second portions. A second ring member has substantially cylindrical third and fourth portions, the fourth portion being enlarged radially with respect to the third portion to define a second shoulder between the second and third portions. The first portion is adapted for mating engagement with the third portion, whereby the first and second ring members are joined together. The third ring member is positionable in concentric relationship with the joined first and third portions.