Yes, it is a tree trunk ring.
Yes, you can get your initials engraved on it in a heart.
Yes, it is THE cutest thing.
And who else remembers that beautiful book, The Giving Tree? I used to read the book almost every day when I was little....and I remember we saw the play in second grade (I think I cried too) and it was so amazing....I need to re-read that book soon!