Belonged to an Elf in the King's Guard, who died in a fight against an ice wyrm.

The ring is a family heirloom, having belonged to her father. - Questline (QL)

“Sometimes we must be the shield so that others can be the sword,” she says with a wry smile. She points toward the bog. “My arm is somewhere in the muck. There’s a ring on it that’s been in my family, but it’s yours if you’ll help them like you helped me.” Backstory Codex - Oracle (RPA-BC)

After the battle with the ice wyrm a mortally wounded elven guard is being cared for by a frogkin healer.

• Salute the elf for upholding the the duty of a King's Guard.
• Praise the elf for her sacrifice to save others.