I can see a lot of possibilities for using these rings as seeds for adventures. Two young and foolish (and rich) lovers contract with the PCs to find these rings, which have been around for a hundred years or more and play a role in many a Bard's song. This complicates things later on when one is abducted for ransom during their first anniversary. The other disappears shortly afterward (teleported) but not before pleading with the adventurers to come to the rescue.
Just having the players investigate all of the old tales in order to track down this one-of-a-kind item would be fun. Especially since so many of the original details would have been changed to make the stories more exciting and romantic. And perhaps the rings' powers have changed over time based on the attributes of their owners.
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I agree with Melvins Cat: this would be fun to play as a mistaken identity. Not only would the characters feel compelled to save a child, but it would add the mystery of tracking down the real father. Even better if there is a chance one of the characters is the father but finds out through the course of the adventure that he is not.
It is amazing how such a short sub can instantly start the wheels turning. There is just enough detail to take this in so many different directions. When I read this I saw a whole larger plot where the priest is a con man who ran off with the money, yet he is being conned by someone from the shadows who's ultimate goal is to sew total chaos. What other matches could be thrown on this already volatile situation?