This is my second ring of this kind; the first was much better. However, I had gotten it out to show my little cousins and can't find it now. I made this one to teach them how to make it.
I used an 18 ga wire as the base of this ring. I twisted it around my finger twice, finshing off the ends with a flourish (as pictured).
Next, I took some golden floral wire (the really thin wire) and wrapped it around the two "levels" of wire. I wrapped it around the top level once, added three beads, wrapped it around the bottom level once, added three little beads, and wrapped it around the top once...
You know what, the picture itself does a much better job teaching you how to make this. So I'll just shut up. :)