This is what you need to make a squished wax rings... its jewellery red wax-
Its the same wax that's used to cover cheese. You can just use that instead of buying wax from a proper shop. Roll the wax between your hands until it becomes wax and very malleable...
and then squish it all between your fingers. Pull it to stretch and thin it out and pinch it to flatten it for your finger.
Once its long enough to fit around and as thin as you want, overlap the ends... ... and squeeze them together forming the ring.
And there you have it... the wax version of the ring. You need to take this to a metal caster and they can cast it for you in the metal of your choice. Silver is the easiest to work with so I'd go with that. Once you have the ring in silver you can file of the nub from the sprue or ask them to do that for you. The golden oxide on my silver was painted on afterwards with sulphur but you can put it in a container with a mushed up boiled egg instead.