First off! This is a VERY simple instructable to do. You'll need:
1 sheet of paper, any kind.
1 pair of scissors.
And some tape.
Cut a strip of paper from your sheet of paper. Set the rest of the paper aside, for future use. Fold one of the long edges of the strip inwards, just a little bit.
Step 1: Folding and Finishing
Bring the strip into a circular shape, with one folded edge over the other
Tape the strip at the joint.
Hold it in the fashion shown, and put a spin onto the ring as you throw it. Throw it underhandedly for maximum effect.