The Welsh flag is referred to as "Y Ddraig Goch". a Red Dragon on a green and white field. The earliest record of this symbol is the 7th August 1485 during the reign of King Henry the VII. 

The red dragon symbolizes wisdom, strength and the supernatural.  Also it can be linked to the element of fire.

The Welsh Dragon Ring I hand make is 10mm wide and features a Loveknot from the Book of Dimma.DimmaLoveknot.htm

In Sterling Silver $145 CND.

In 14K Gold $Call for quote

in (Yellow, Red, Green or White)

Some more info at

http://www.welshdragon.net/product_info.php?products_id=276

and

http://www.draconian.com/history/history.htm

The Welsh Dragon ring in Yellow Gold.

The Welsh Dragon Ring in Sterling Silver with a Rose Gold Border at the top and a Green Gold Border at the bottom.  Similar to the flag colours.

Below is a White Gold Welsh Dragon Ring with Yellow Gold Borders