Titanium is an awesome metal. If you have the patience it makes an equally awesome ring. It's a very hard material. My guess is that it takes twice as long to make compared to a nickel ring.
Step 1: Cut a piece off.
I first tried using a scroll saw and a diamond wheel to cut the metal. You'd think I was trying to cut it with a butter knife. I ended up drilling several holes and breaking it free in a vice.