The ring on Eddie’s right hand is often recognized as a “mood ring”. BUT there's a debate that it might be a specific stone. An obsidian snowflake. In close ups, you can actually see the ring better, with black and speckles of white.
Upon further research, an obsidian snowflake just so happens to be of importance in DnD. Here’s the description: “When exposed to dragon's breath, the stone absorbed an unpredictable portion of the damage and disintegrated. It is formed when the scorching-hot lava inside a volcano spurts out and cools down. Its birth signifies that in every chaos, peace is inevitable.” Coincidence? Or is it exactly describing Eddie's character arc? In the most chaotic of all places, the Upside Down, Eddie finally found peace when he "didn't run away this time, right?". Joseph Quin described Eddie as guilt ridden over what happened to Chrissy. Eddie could have found some serenity after all, by avenging her in his own way, and buying time for his friends to fight Vecna.
It also builds Eddie's character in such an awesome way. He probably stumbled upon that ring in a shop and recognized the obsidian. Just the kind that would protect him from a dragon's breath. A strong metaphor for people waisting their breath on him, calling him a freak and other colorfull nicknames. Eddie is the kind of guy that pays 👏🏻 attention 👏🏻 to the smallest things, wearing daily a DnD reference that most people won't notice. That melts my heart, because it shows our boy is detail oriented.
AND, in lithotherapy, the obsidian snowflake is the stone of rebirth and emotional growth; also why called “the flowering obsidian”.
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