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1.
Specifically from high schools or colleges, students are handed a packet and given a few weeks to choose a ring, stone, and designs that represent themselves the most. Usually very expensive, unless you're a rich bastard...
Student 1: Hey did you get a class ring?
Student 2: Yea, I got a 10 carat diamond stud on it too!
Professor: You rich bastard!
by fashionNuggt May 10, 2009
49 7
 
2.
To wrap one's penis around a finger so it resembles a ring on a finger. Commonly used in the penis showing game.
Kirk tricked Bob into looking directly into his Class Ring. Resulting in Kirk being able to kick Bob's ass twice for being gay.
by John Netmuer November 26, 2005
15 56