[My2Cents]

I may be mistaken (and the films don't reveal this), but doesn't Gandolf possess the third elven ring?

[epluribus_2]

But he's not an elf. (smirk)

[Liberal Classic]

Yes, Gandalf wears one, as does Galadriel, and so does Elrond. I don't remember exactly what each one does, but Galdalf's has something to do with fire.