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As you read the snippit you will see that Arnold wears several rings. The one in question I have put in blue print.
Arnold Schwarzenegger gives a thumbs up and shows off his lapis lazuli ring.
THE ASSOCIATED PRESS
The gubernatorial candidate does not wear a pinkie ring -- that alone would suggest that he would be better suited for the craps table than the Legislature. But he is a man comfortable adorning himself with lapis and sapphire.
Schwarzenegger doesn't wear a traditional wedding band; instead, he wears a yellow gold and sapphire ring that was given to him by wife Maria Shriver on their wedding day. One might refer to its carat size as "significant" and its style as MGM Grand.
Complementing the sapphire is a large lapis lazuli ring, particularly prominent when Schwarzenegger is jabbing the air for emphasis the way that politicians do. According to his publicist, Jill Eisenstadt, it was given to him by a Navajo tribal member about a dozen years ago when Schwarzenegger was traveling on behalf of the President's Council on Physical Fitness and Sports.
The silver skull ring was custom-designed for him as a gift from an unidentified friend. One likes to imagine that perhaps it was given to him by his buddy, former President George H.W. Bush -- a member of the Yale secret society Skull and Bones. Could Schwarzenegger be an honorary member?
Finally, Eisenstadt says there is one other substantial ring in Schwarzenegger's jewelry box. It is a limited-edition boxing championship ring from Muhammad Ali. Its various inscriptions read "three time world champion" and "the greatest." When one considers the elephantine size of a boxing championship belt, one can only assume that a ring would have the proportions of a minor moon.