A class ring is typically worn on the ring finger of the right hand. This is meant to reserve the ring finger on the left hand for an engagement ring or a wedding ring.
Class rings are generally worn by those who have been through a military academy, high school, college or university. These rings are meant to celebrate milestones as well as signify a lasting connection to a specific institution. Class rings are also typically worn with the school name or crest facing the wearer and is later turned to face outside in a special ceremony upon graduation. Schools will usually have a preferred ring company that provides class rings for their students.