The legendary Ring of Wishes once owned by King Ob'Nixilous is a mighty item indeed. It it theorized that the might Azlanti Empire of old, that spanned the entire globe in unification, was made possible by this ring.
This ring is set with three rubies. Each ruby represents a wish that the ring can fulfill, for a total of three wishes. It is said that Ob'Nixilous used two of the three wishes in his life, and saved the third wish to be used after he perished to bring him back from the dead.
For some unknown reason it was not used in that way. Some theorized that it was because he ended up using all three wishes before dying, but those familiar with the Ob'Nixilous's tomb know better. No one would have so much protection set up for their tomb if there were not something very valuable to hide inside. Whatever the reason, the ring was buried with him with it's final wish intact. Surely whoever found it could do great things, perhaps terrible things, but certainly great things.
Lightning
The ring was obtained by the party and kept in case of dire circumstance. The party was captured before using the ring, but their partner Lightning grabbed the ring and quickly made the first wish he could think of in order to stop the ring from falling into the wrong hands. The result of this wish was the transformation of Lightning back into human form (see Lightning for more information).