First off though, I have to say thanks to Mat from BENTFORMS, for answering all my random questions.
Step 1: Supplies
1. A Phillips head screwdriver you wouldn't mind gouging up. The screwdrivers diameter will be the same as the rings you make.
2. Pliers. Any will do, just make sure they're not really tiny or really big.
3. Paperclips. I use the 'Jumbo' kind from a certain store that rhymes with 'Maples' you can get 700 for around $7, great deal if you ask me. Too thin of a clip won't make very good rings, however, so make sure yours are thick enough.
4. Rotary tool with cut-off wheel. This is what you'll use to cut your rings. While you CAN use a wirecutter, they will leave points on the ends of your rings, eventually 2 ring's openings will line up and they will come apart. The flat edge a cut-off wheel makes is perfect for this, although your rings will be a little misshapen due to the material the wheel takes away.
5. Vice-Grip. This is what you'll use to hold the straightened out clip on your screwdriver.