Narrated 'Abdullah: Allah's Messenger ﷺ wore a gold or silver . ring and placed its stone towards the palm of his hand. The people also started wearing gold rings like it, but when the Prophet ﷺ saw them wearing such rings, he threw away that golden ring and then wore a silver ring.
The values taught in this hadith include following the sunnah of our beloved prophet ﷺ, being humble and not being influenced by what others are doing or wearing. We should strive to be modest in all aspects of life including how we dress ourselves and accessorize ourselves according to Islamic teachings rather than following trends or fashions set by society at large.