Ruby Encrusted Ring (lvl 13)  

The Spriggarns in Salisbury Plains drop this ring. But it is NOT common here, it's uncommon to rare. In the three days we have been there trying to get a pally sword, it has only dropped once. And we kill the whole camp.

As with everything, there's junk loot, then there's magic loot.
Junk loot is based on zone and npc race type. Magic loot is based on zone as well, but depends on level.
I was with a group in the Salisbury Plains the first weekend Lancelot was live; We took down a level 14/15 Tomb Raider scout which dropped the ring. No sooner could I send "/g what are the stats on that ring?" when I realized it was defaulted to me... Magic items such as this ring, the Sharpcut dagger, and that +6int necklace (dunno the name, it went to an arsman er, armsman who kept it - punk :P) - these all drop randomly based on npc level.
Just keep look'n, and as long as mobs are green, they'll drop loot for ya.
Domin - Sorcerer of Lancelot

who drops this ring? and where? thanks!