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A cocktail ring is a large, dramatic ring often worn at cocktail parties. During the Prohibition in the US women often wore these rings at illegal cocktail parties, where they flaunted the fact that the wearer was drinking illegally, and was doing it with style. Nowadays cocktail rings can be worn to many different types of occasions or even as part of a casual outfit. There's no one set style for a cocktail ring, but many have a large, centered imitation jewel.
Though cocktail rings first came into fashion in the 1930s, they grew in popularity throughout the 1940s and 1950s, as cocktail parties continued to be popular events. Although cocktail parties are less common now, many people still wear a cocktail ring with huge diamonds or other large precious or semi-precious gems for formal dressy occasions, and especially for events like premieres of films, Broadway theater productions, or award shows like the Oscars or Emmys.
While the trend in earlier rings was to use precious stones, particularly diamonds, most cocktail rings today are made with faux stones. The difficulty and expense of obtaining large precious stones often makes using real stones prohibitively expensive. These are reproductions of rings worn by fashionistas, and a good costume cocktail ring is perfectly acceptable for any events.