When Chanel Fine Jewelry hosted the annual Fete d'Hiver in New York City, we were prepared to see some stunning baubles. Blake Lively's necklace certainly made a statement, but it was the delicate "Ruban 1932" ring she wore that drove us to distraction. "I'm so attached to everything Chanel," admitted the Gossip Girl, on hand to help raise funds for the Memorial Sloan-Kettering Cancer Center's Clown Care program. "But this pinky ring is just amazing!" And since it is a 3.01 cushion cut diamond (surrounded by 246 brilliant cut sparklers) set on an 18k white gold "ribbon" setting, it's also a fortune—Blake borrowed, but it can be yours for $270,000. If only, as We're Obsessed editor Megan Deem says, money were no object.

Ruban 1932 ring, Chanel Fine Jewelry, $270,000; call 800-550-0005.

—Bronwyn Barnes