The ring is an African elephant hair ring, made of gold.
http://www.bing.com/images/search?q=african+elephant+hair+rings&qpvt=african+elephant+hair+rings&qpvt=african+elephant+hair+rings&FORM=IQFRML
Yeah, right, lol.
It features a series of coiled snakes. It is of middle-eastern or Egyptian design. It is not an elephant hair ring.