To 'talk ring' is to talk 'shit' or simply converse with friends or your buds about your topics of interest. You may be talking about the weather or even the state of the economy but it was still be 'talking ring'. The word 'ring' which substitutes for 'sh*t' is derived from Australian coloquialism, as human excrements or derogatively known as 'sh*t' comes from your 'ring'.
"Oi let's go talk some ring ay"
"Man that ring was bullsh*t"
"Stop talkin' ring"
"Man that party was pure ring"
"i just want to talk ring"
"I want to talk ring about the weekend"
"That teacher was talking absolute ring to us"