IIRC, pinky rings are significant in the good old fashioned Mafia.
Yes.
“Evidence indicates that Chicago Outfit boss Sam Giancana often wore a star-sapphire pinky ring, which was a gift from Frank Sinatra.
Sinatra often wore his own gold signet ring (featuring the Sinatra family crest from Sicily), which was a symbol of Italian American heritage, style, and power. He had about a dozen copies made and gave them to close friends, including Rat Pack members like Dean Martin.”
—Crime Magazine, September 12, 2009.