Once considered more valuable than diamonds, a peridot ring is a must have. This "gem of the sun" is the birthstone of August and is a beautiful match for the lush green tapestry of late summer. The birthstone of December, the tranquil azure color of a blue topaz ring can evoke thoughts of warm Caribbean seas on a cold winter day. Once considered more valuable than diamonds, a peridot ring is a must have. This "gem of the sun" is the birthstone of August and is a beautiful match for the lush green tapestry of late summer.