That type of ring is primarily for your scrotum. I sometimes wear one or more as a sort of ADS, behind a vacuum cap. Cock rings tend to be narrower and one-piece.
I recommend buying neoprene O-rings off eBay. They’re very cheap, have almost no stretch, are hypoallergenic, easily sterilized, water and oi proof, and if the damned ring is too tight and won’t come off, it’s easy to cut loose if you have to.
Once you determine your correct size with a neoprene ring, you can use that to buy a steel ring.
Cock rings break down into three basic types: behind the glans, at the base, and "behind the balls".
If you’re much of a grower, keeping a ring on will often mean the ring has to be smaller than what you would use when erect. So a spontaneous erection while wearing a snug ring can become painful. The more of a shower you are, the easier fitting the ring is.
I occasionally wear a ring for decoration. Since I’m a grower, my main problem is not having the damned thing slip off, slide down my pant leg, and go rolling across the floor.