According to tradition, King Solomon had a servant who admired him for his wisdom. The servant noticed that when King Solomon gets angry or sad he looks at his ring and the good mood returns. On the ring was written "this too shall pass" (in hebrew " Gam zeh ya'avor"). The ring reminded King Solomon that life is short and he needs to do his best to be in a good mood and help his people.
The ring is supposed to symbolize that after a bad period of time the situation will return to normal, and to take life in