Cut the bottle completely around with a xacto or scissors.

It should look like this.

Now cut it to make one long piece.

Wrap it around the finger of your choice (not too snug) and tape it shut.

Cut some long pieces of embroidery floss in any color and tape it to the inner part of the ring.

Beginning wrapping the floss around the plastic quite snuggly, showing no gaps until it is completely covered. Use glue to secure the end on the inner part of the ring and let it dry.

Once it has dried, use transparent beading thread and sew a rhinestone, decorative large bead or beads to the ring. It's not as hard as you may think, the plastic is quite thin.

Instead of embroidery floss, I used ribbon and it looks great!!!!