this is a very pretty mock wedding ring from alex anderson's show.
http://www.hgtv.com/video/wedding-ri...deo/index.html
i'll check to see if there's a part 2
they've removed part 2. as usual.
essentially, they cut a circle the size they wanted. they cut the arches from the strata as shown. they batted the circle and backed it with co-ordinating fabric. they turned it rightside out. they turned under the seam allowance of the arches, on both edges. they pinned the arches to the circles, through all the layers. they then marked a square on the circles, with the points of the square touching the circle. then they pinned where the four points are. they attached two circles together back to back so that the pains matched up. the flaps of the circles were stitched down with plain or decorative stitches. onto the next one. it was sort of stitch and flip.
i hope i explained it so that you could understand it. if not i'll sketch (ha!) it.