Narya is one of the Three Elven Rings. It is the Ring of Fire, and is gold, with a ruby set into it.

It was made, along with the other two rings (Nenya and Vilya), by Celebrimbor. He gave Narya to Gil-galad of Lindon who passed it on to Círdan, Lord of the Grey Havens.

Círdan kept the Red Ring until Olórin came upon his ship to travel to Middle-earth.

Círdan knew from their first meeting that Gandalf would need the ring more than he. He gave it to him there, and it was kept hidden until Gandalf sailed back to the West.