Working with chain is fun. I've done a couple of tunics and coifs/gorgets over the years for myself and various SCA friends. I've never worked with rings quite that small before though.

You'll have some stiff competition at that price point, though. Unicorn's garden and a few other specialty retailers already sell these. (Ring size is quite a bit larger, though) The price points on those tend to start around $50.

1998 Eclipse RS-T - Totaled 4/23/09 -
1998 Eclipse GST - Stroked 2.3l, HX40 fed: Build in progress
2010 Subaru Outback Limited

I hate hipsters.