Hello all!
This is just a small tutorial on how to make a simple ring and texture it, designed for noobies like me 
Without further ado, here it is:
Step 1: At first, in top view (NUMPad 7), add a torus with 20 major segments and 8 minor ones. This is what your screen should be displaying right now:

Step 2: Right now, it just looks like some sort of 3d bagel, and since we want it to be skinnier, I found a cool tool called shrink/fatten.
Press ALT+S, and scale the torus to about a value of -.300. It should now look like this:

Step 3: It currently does not look like a ring, so what we have to do is go into side or front view (NUMPad 1 or 3) and scale it vertically.
In other words, go into side or front view, and press S (with all vertices seleted), followed immediately by the letter Z, which will scale it along the Z Axis.
A value of 5.4 worked for me:

So, with the simple modeling part of it done, we can now proceed to texture the ring, but before, add a subsurf of 2 for render and 1 for editing.
Step 4: Firsly, assign a material to the ring, and do the necessary changes that I’ve circled:

You may change the color and shader if you desire 
Step 5: Assign two textures to the material, one with Stucci and the other to a marble texture. Make the necessary adjustments to it:

Step 6: Next, you need to adjust certain settings in the materials texture tab:
The “Map To” buttons

Well, that was pretty much it, and if you set up your render with an area lamp and a plane underneath it, (with ambient occlusion on ) you should see something like a ring.
Please make suggestions as to how I can improve the materials, since I’m pretty new to them as well.
Hope you enjoyed it and hope it helped a bit 
Pash


