Hi, You seem to have developed an allergic skin disease. Most importantly,you should try to remove the ring which is causing the reaction. You should avoid applying any kind of skin irritants like dettol, spirit over it. You might need to apply a topical steroid cream over the affected area twice a day for few days. Take some oral antihistamines along. See a nearby dermatologist if the condition tends to persist despite this therapy. You might need a course of oral steroids. Hope it helps, Dr Geetika Paul. MD(Dermatology)