This large ring is set with a faceted ruby. Closer inspection reveals a tiny trigger near the base of the stone.

Hidden below the stone in this ring is a set of tiny prongs, wires, and other small devices that spring out when the trigger is depressed.
Using a lockpicking ring grants you a +5 competence bonus on Open Lock checks. This is a continuous effect and requires no activation.
In addition, you can activate the ring once per day to use knock. You must touch the ring to the portal you want to open.

Prerequisites: Forge Ring, knock.
Cost to Create: 1,500 gp (plus 500 gp for base item), 120 XP, 3 days.