I got curious so I researched.
Probably made by Walter Lampl, a very popular costume jewelry maker who also made jewelry in gold and silver.
Also very patriotic.
Made pins that he patented and sold right after a pearl Harbor for $1.00 and 10 ¢ of the profit was donated to the Honolulu Comunity Chest and that "Patriot Pin" became very popular so he ended up donating thousands of dollars from its sales.
Pic of this pin below.
He made other patriotic pieces and this ring seems to be one of them.
During WW2 he went to Mexico for the skilled silversmiths and because silver was still available there so this ring is probably Mexican silver by birth.
His story...
http://milkywayjewels.com/lampl_article.html
More info...
LAMPL: 1921 - 1959
The Lampl Company NY, was founded by Walter Lampl in 1921. It was a wholesale jewelry company creating bold and highly individualistic jewelry, prong set, using frequently semi precious gemstones (carved topaz, amethyst, jade, lapis, cinnabar, garnet and turquoise etc.), at times synthetic stones, the highest quality clear and colored rhinestones and crystals, and natural seed pearls on karat gold(10K and 14K), sterling silver, rhodium, and gold plating as base metals. The carved green jadite and other precious stones came from China in the 1920s and 1930s. Lampl’s designed included fish, ballerinas, peacock, flowers and floral arrangements, Victorian Revival themes, and circus items. Motto of Lampl jewelry was "Creators of the Unusual, as Usual". Some of the jewelry in WWII was produced in Mexico. Walter Lampl died in 1945 and his wife Sylvia Lampl and son Walter Jr. took over managing the company. The company ceased operations in 1959. Mark: "WALTER LAMPL", "LAMPL", "WL 14K", "14K WL"(on rings), "By Lampl" in script, "By Lampl STERLING" with the name in script, "WL in a shield, STERLING", "WL in a shield 1/20 - 12K Gold Filled", "THE UNITED FRONT...BEHIND THE FRONT" for rings, bar pins, bracelets, necklaces, charms, dress clips, key chains, earrings and brooches since July 1942, "WALBURT" for rings, bracelets, earrings, lapel pins, necklaces, lavalieres, lockets, charms, and dress clips in March 1944, "Pin Wheel" in script on ornamental dress and lapel pins used since Dec. 1945, "Toddle Tot" for bracelets, rings, necklaces, lockets, barrettes, and pins used since Feb. 1944. Lampl costume jewelry is highly collectible. The company ceased operations in 1959.
