A ring that is only meant to be for the wearer, as a reminder of their commitment to God to save sex for marriage. It is not supposed to be showy, or a symbol that they think they are superior, but simply a personal reminder. It is a big deal to the wearer, but it is supposed to be personal and only between God and that person. Granted, some people do wear them for the wrong reasons, but there are always people who do things for the wrong reasons. And yes, guys do wear them, and please, make fun of us all you want, we don't care.
Richard: "What is that ring you are wearing?"
Andrew: "Oh, its my purity ring."
Richard: "What does that mean?"
Andrew: "Just a reminder for me of my commitment to purity until marriage."
Richard: "Oh, well I don't believe in that."
Andrew: "Ok, well that is fine."