Is an interesting design.
that looks like a G.I. old product.. And yes I agree your assessment about the gold - SS etc. That would have been a made from pieces ring.. I have period findings catalogs where they sell those exact side pieces. The cartouche would have been hand carved . That background of the SS runes wants to look like its hand done but its not.. Interesting ring and IF inexpensive might be worth getting just for the gold [if its real gold!] What is that content stamp??