Cut out 2 cm wide strips from the crepe paper. Take the bangle and wind a strip of crepe paper around the bangle to cover it. Fasten the end of the strip to the bangle using glue.
Similarly cut a piece of silver ribbon and wind it around the bangle on top of the crepe paper. Leave gaps in between to show the contrasting colour of the paper. Now tie the ribbon. Make a loop on top for hanging. Cut off the extra ribbon.
To make the bow, cut out a square shaped crepe paper. Now fold the paper, like if you were folding a paper fan or an accordion. Gather the paper in the center to make a bow shape. Secure the bow in the middle with a strip of paper as shown.
Place the bow on top of the bangle. You can either secure it to the bangle using glue or wrapping with a paper strip.
Here your Christmas ring is ready. Make as many rings as you need in different shades to decorate the Christmas tree.