Described are multifunctional jewelry rings and methods comprising a ring band section, a base, a restraining device, and a ring top. The restraining device has a central portion extending through the base and the ring band section and has first and second end portions extending from a bottom surface of the base. In a first state, the restraining device holds a finger in place against the ring band section. In a second state, the restraining device holds a bundle of hair together against the ring band section. The ornamental ring top is removably attached to the base.