This is called Claddagh... I bought a Claddagh ring in Ireland. There are two ways to wear it, as shown. If the heart is facing you, it means you are taken, i.e., you have a significant other in your heart. If the heart is facing away from you, it means your heart is ready to accept another person. Isn't that neat? The crown represents loyalty, the hands represent friendship and the heart represents love. The Claddagh started here in Galway.