by craftbits (shellie wilson)
What you need
Delica seed beads (they lay flatter, highly recommended)
Silamide beading thread (you can use Nymo, but you must pre-condition it before use)
Beading needle (I use size 10, but size 12 will work)
8 mm accent bead (I used facetted cat's eye)
String on the stopper bead and pass through it twice, leaving an 8 inch tail.
String on as many beads that will fit around your finger. When sizing, beware that the ring will have a tiny bit of stretch.
Pass your needle through your first 4 beads (not the stopper bead) to make a ring shape. Make 2 half hitch knots.
At this point you will start the peyote stitch. Add one bead and skip one bead. For better instructions regarding peyote stitch, go to beadwork.about.com
Continue your peyote stitch until you get to the desired thickness of ring. I have 7 rows
Tie off your ring by completing 2 more half hitch knots.
At this point you can cut off the extra thread, tie 2 more half hitch knots in your ring and add your accent bead (the stronger way), or simply add your accent bead. You add the accent bead by weaving the thread through the delica beads and through the accent bead several times.
String on a dagger bead and weave it very close to your accent bead. Weave each dagger bead in a circular fashion around the dagger bead. After you have completed one layer of dagger beads, sew the additional dagger beads on top. Tie off your project by doing 2 additional half hitch knots and weaving extra thread through beads and trim off. Trim off your stopper bead and any additional thread sticking out.
Ta dah! Completed project: