From casual observation and after discussion with the highest scientists and philosopher on the matter it has been determined that the one ring has the ability to change size dynamically based on who is currently using it. In the story the ring can at the same time fit Sauron with armor and a hobbit without needing any assistance from a jeweler.

We can then assert that it should be possible to use it as a cock ring, even one of the best on the market because it will always be tightly and snugly fit to any penis currently holding it as to not fall.

Further analysis is needed by consenting volunteer to verify if Sauron feel the ring being fucked since it in the lore an extension of himself and should then be able to feel anything done to it, but maybe another way of defeating the evil lord could have been found ! One were no big war or destruction of the best cock ring on the market was needed but where an endless orgy is put in place as too constantly distract Sauron.