Take your wooden ring and the color ribbon of your choice that you would like to use as the base color and simply wrap the ring with it. As you get to the end add a dot of glue from the glue gun to secure the end. If you feel like the ribbon is not secure as you are wrapping it, just add some more dots of glue to hold the ribbon in place.
Then just take all different lengths of multi-colored and textured ribbon and tie them onto the ring. The rings look great if you really vary the lengths of the ribbon.
You can tie as many ribbons on as you want but make sure there is some empty space for the little ones to hold on to!