Can men wear any jewelry in Islam? The answer is : No, except for a silver ring which weighs less than 4.235 grams. The Prophet (peace be upon him) used to wear a silver ring in his pinky finger with an Abyssinian stone in it. And, he would make the stone face his palm. The ring can be worn in the pinky finger of your right or your left hand. In Shafi’i fiqh, wearing the ring in your right hand is considered to be better. Most scholars think that the stone in Prophet’s ring was carnelian (aqiq).
Sayyiduna Ali (may Allah be pleased with him) reports that the Messenger of Allah (Allah bless him & give him peace) held silk in his right hand and gold in his left, and then said: “These two have been prohibited for the males of my Ummah” (Sunan Abu Dawud, Sunan Nasa’i & Musnad Ahmad. [sunnitpath.com]
Here are a few links which go into detail about why jewelry is forbidden for men :
Hanafi fiqh ruling on jewelry for men:
Shafi’i fiqh’s ruling on silver rings
Here’s a picture of a silver ring with aqiq in it. I have been told that the stone in the picture is too big for a pinky finger but this should give you an idea of what I am talking about.