The Masonic Ring and the symbols on it is a probably the most recognizable emblem of the world's largest fraternity - The Freemasons.
Most commonly, the Masonic Ring has a symbol with a compass and square on the top. If the ring has a stone, it is typically either a blue spinel, synthetic ruby or black onyx. There are at least a couple of opinions as to whether the wearer of the Masonic Ring should wear the ring with the points of the compass either facing towards the wearer or away from them. The square is the symbol of all earthly, the compass is symbolic of heavenly perfection.
In a combined emblem:
 – The ends of the square point up as a symbol of man's aspirations toward God
 – The points of the compass point down to represent heavenly qualities coming down from God to earth.
It seems that the proper way to wear the Masonic Ring would be that in which its symbolism is best expressed - when the hand is held in its usual position the points of the compass are to the earth and away from the wearer's eyes. 
To wear the Masonic Ring, you must have achieved the degree of Master Mason.

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