The ring of life grants one automatic teleport to Lumbridge (optional teleport to Falador upon completion of Recruitment Drive, Ardougne upon completion of the medium Ardougne Diary, Camelot upon completion of The Knights Training Grounds minigame, or Edgeville (after paying 5,000,000 to Krystilia) if the wearer is dealt damage and has 10% or less of their Hitpoints remaining. However, the ring is not foolproof, as a player wearing one will still die if they are hit from above 10% of their maximum Hitpoints to zero. As with the amulet of glory, the teleport will work up to level 30 Wilderness, as opposed to the normal limit of level 20 for most teleports. It only has one use, during which it is destroyed. If it is worn along with a phoenix necklace, the necklace effect will trigger first. It is made by enchanting a diamond ring with the Lvl-4 Enchant spell. In PvP the ring will teleport you away if you're not Tele Blocked.
When activated, the ring of life will not cure poison.
A ring of life is a reward from The Lost Tribe quest.
As of 3 December 2015's update, a Defence cape can be used in order to gain the ring's effect.
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For an exhaustive list of all known sources for this item, see here