This ring was found at Mt. Saint Helens and was guarded by Firebrand. Tony, Rhodey, and Pepper arrived to check it out, seeing as how Gene Khan missed their calls. Pepper screwed up and activated its test of Temperance. Rhodey was caught into the light and possessed by the Firebrand guardian and attacks Iron Man. Pepper tries to solve the test, but her efforts resulted in her getting possessed by the Firebrand. Rhodey called Gene for help and his advice helped pass the test. Firebrand was stopped and the ring was activated.
Tony kept it on his finger for a few days until Zhang as the Mandarin took it back. When Pepper stole his rings, threw them into the mouth of Fin Fang Foom, and Gene was eaten by him, he took back his rings with the Red ring on its glove.
Fire Manipulation: This ring allows the Mandarin to create and control fire and heat.
Seismic Manipulation: The Red Ring may also give the wearer command of seismic forces. Allowing them to cause earthquakes and control the ground around them.