Ghostly Finger Ring is a ring that another ring can pass through effortlessly, like a ghost through a wall. A ring much like a movie company's special effects department might produce. 

Three Rings are borrowed from the audience and are linked together in a chain. One ring is unlinked and returned, the other two are displayed on a mechanical pencil with one hanging below. 

On the magician's command, without going near the rings with his hands, one ring visibly unlinks from the other and drops to his waiting, cupped hand below. 

Comes complete with a carrying case, props, and gimmicks.