This article is from the Final-Fantasy and other Square Soft Games FAQ, by email@example.com (Nick Zitzmann) with numerous contributions by others.
The Paladin Ring does not exist. It has only been rumored to appear in
some prerelease versions of the game.
Please stop any rumors that this item may exist. We've talked it to
death by now.
(Note: To clear this up, the Paladin Ring does not exist in the vast
majority of games which made it to the market. If you try uncursing the
Cursed Ring and get a Paladin Ring, congratulations. But seeing that
most copies do not have the Paladin Ring present, I would not even try.)