Third Ring

The Ring of Fire, one of the Three Rings of the Elves, that was sent to Gil-galad for safekeeping, and given by him to Círdan the Shipwright. When the Istari arrived in Middle-earth, Círdan passed the Third Ring on to one of them, the Wizard who would become known as Gandalf. Gandalf bore it in secret for more than two thousand years, until after the Downfall of Barad-dûr and the destruction of Sauron. When he finally returned to the Grey Havens, ready to sail back into the West, he was openly wearing the Red Ring when he greeted Círdan, its original Guardian.

It is not known why Narya was designated the 'Third' Ring: perhaps it had slightly less power than its companions Nenya and Vilya, or perhaps it was simply the last of the Three Rings to be made by the Elves of Eregion.