Ok if you are a knitter you'll probably easily have worked out how to make this ring ! But essentially, knit a small I-cord either 3 stitch or 5 stitch and knit your tube to the size you require (I knit mine a little small to allow the wool to 'give').
Finish off the i-cord and quite simply sew on your button stack, or beads, to the join end of the i-cord. Tie off all threads & yarn, and weave it through the centre of the cord, making little knots as you go (if you can !) to secure and then simply cut off. You can also embelish around the ring base with little seed beads, or crystals etc. Or you could go one step further and knit a long i-cord tube and make a choker.
As there are a million tutorials on i-cords, I'm not going to create a new one, but have a look at Stich Diva if you need a pointer. Her tutorial has lots of pictures and is easy to follow: here
It's a great way to use up leftover wool and buttons. You could also use the icord on your scrap pages & cards !