´It was narrated from Ibn 'Abbas that :` The Messenger of Allah [SAW] took a ring and put it on, then he said: "This distracted me from you all day, shifting my gaze from it to you (and back again)." Then he threw it away.
Explanation & Benefits
Hafiz Muhammad Ameen
It appears that this was a gold ring, which has also been mentioned above. Due to its beauty, your attention was repeatedly drawn towards it, so you deemed it inappropriate to continue wearing it. From this, it is understood that one should not wear a ring solely for adornment.
Source: Sunan Nasa'i: Translation and Benefits by Shaykh Hafiz Muhammad Amin Hafizullah, Page: 5291