A tool is used to split the coils of a key ring so that the key ring can be easily and efficiently placed on a key or other object. In one embodiment the invention includes a pair of guides, such as ribs or slots, incorporated into the bridge of the key ring grip. One rib or slot assists in getting the key ring onto the key and the other rib or slot assists in removing the key ring from the key. Alternatively, the tool could be separate from the key ring bridge and take the form of a plate having a pair of cut-out sections on opposite sides thereof. One cut-out has a sharp leading edge on the top of the plate and the other has a sharp leading edge on the bottom of the plate. A semicircular handle is attached to one side of the plate and assists it further by widening the gap between the coils so that a key can be threaded onto the free end of the key ring.