I was hoping when I first saw this ring, that it would be a 'Ring of Blunts'. As a blademaster (bluntmaster actually) I must once again keep on shopping. Something that says... I dunno, "+2 Blunt, +3 Qui, +3 Str" would be nice :)
I killed a sabria that dropped one of these too. She was yellow to me at 22. This happened south across water from Connla in the first valley not far from 4 aranged stones visable to the right from the road to Innis Carthaig. Sounds like its not a specific drop to any npc or npc type but a uncommon drop for a level 21-22 npc.
I got mine from Rock Sheeries across from Howth. I was there doing the Rolling Stone quest, killing the Rock Sheeries and one of these dropped. It seems a rare drop, since I killed tons of these trying to get the named one to spawn, and only got one to drop.
Eleine Fawr Level 30 Druidess - Hibernia Chieftess of Ny Jinnyn
Looks like one of the many random loots you can get in Spraggon Den...although I may be wrong. Looks too good to be a outdoors drop, and Spraggon is about where you'd find a level 21 drop, so there ya go.