Cartouche on a ring

This is a bit off topic, but because many knowledgeable people
participate on this list I thought I might try. I friend knowing
that I am interested in 'old languages' sent me a photo of a
cartouche on a ring that he has had for more than 30 years. He has
been unable to find the meaning. As far as I know cartouches were
drawn around the names of royalty, but this ring is modern so the
question is whether there is any meaning at all. I posted the photo
in the Photos section here in case anyone would like to venture an
opinion. I'll remove it in a few days.

Peter P