This guide will tell you how to equip a NEW RING OUT from Your Collections in Multiverses.
You get these rings out from the battle pass.
You first have to go to the collections menu and you will find all your characters. At the bottom, you will see global cosmetics.
After that, go to the ring out and select it. You will find many options, the first two are the default ones. You can change this to any other of your choice by simply clicking on that ring out.
There are also some paid ones, you can buy these with the gleamium you can then simply press x to unlock that which you have selected.