I made it out of air drying clay for the circle and the little triangle hanging things as well as the eye in the centre. I then used cardboard for the triangle in the centre and then painted it with antique gold spraypaint.
Air drying clay cracks pretty easily at cons. I've had to remake this very ring 5x. Just finished mere seconds ago making it again but this time I've used cooking clay. I'd recommend using that as its stronger.
I just posted a photo of my ring. You can see the ends aren't really that pointy. What I did was draw the shape with a pencil and paper, placed it on some clay then cut around the shape with a sharp knife to get the shape of it. Hope that helps some. ^_^
You're welcome. ^_^ Not sure how to make the rod myself either. I have foam for the wings, a foam ball for the circle, a piece of wood for the handle but not sure how to go about it completely. I figure I'll use paper mache but not sure how to attach the head of the ball to the wood. XD;