Check for cracks in the bottle. If you see cracks, discard the bottle. Remove the modeling clay ring and empty the bottle into the trash; you should see a small disc of glass (if it's not in the bottle, it's most likely stuck in the cavity of the hole saw). If the disc is trapped in the hole saw cavity, worry it out with a paper clip; when the edge is accessible pull the disc out of the cavity with needlenose pliers.
Rinse the bottle with water and allow the bottle to dry again.