This ring is closely related to the lighted face Howdy Doody premium ring from Palmolive issued c. 1950 but for some reason immensely rarer than the Howdy version with less than five known examples of Clarabell. In addition, the applied paint used to transform the high relief plastic head originally designed as Howdy into Clarabell easily chipped with any use at all and there is only one known example with NM paint. From a construction standpoint, this ring is identical to the Howdy version except on Clarabell's head is mounted a small brass hat fully .25" tall. The ring base, as on the Howdy version, shows two images of Clarabell with his elaborate collar and the brass loop to hold a battery has the same maker's name "Brownie Mfg. Co." along with "Pat. No. 2,516,180." This patent for "Finger Ring With Flashlight Adjustment" was filed in 1948 and granted July 25, 1950 to Meyer M. Brown (presumed owner of Brownie Mfg. Co.). We do not know if a correct battery will light the ring or not. In addition to the painted facial details transforming the Howdy face into Clarabell, the hair is also totally different with just color accents left and right on Clarabell's head while the center area is unpainted (unlike Howdy) to represent Clarabell's bald head. The ring base has muted brass luster, but not much less than it ever did, as these ring bases were not plated with bright flashing. The face paint has only a very small flake off the underside of the nose 1/16"x1/8" plus an even smaller speck off the top of the nose and a 1/16" dot off one cheek. Exc. One of the Holy Grails of premium ring collecting and probably the second best condition example of only five known. The Hake Pop Culture Memorabilia guide lists the NM value of $3300.00 which we feel is actually conservative given the ring's rarity, particularly so in this condition. Only the second example we've been able to offer and the NM example exceeded $4,000.00.