a Webring
As the name implies,
is a way by which web visitors can surf through websites that share a common theme.

To navigate 'around' the webring, the websurfer simply clicks on the "next", "previous", or "random" links found on every webring's navpanel.
It is called a ring for by continually pressing the "next" link on the nav(igation)panel, the surfer will move from one website to the next and eventually return to the starting website.
A webring is created and maintained by a person known as a the ringmaster who is the sole arbitrator of whether a website belongs in the webring. The ringmaster accepts site submissions, validates each site on joining and monitors compliance with the rules and principles of the webring.
The ring belongs to the ringmaster who has the final decision.
The benefits:
For the surfer:
Ringed websites being linked to one another through a common topic of interest, makes it easier for a net visitor to find relevent sites by surfing the webring than searching for links through large search engines. Moreover, the webrings are managed by individuals who have an interest or passion for the topic, and takes personal interest in maintaining a good quality ring directory.For the websites:
A well run webrings is expected to deliver targeted visitors to a site because the visitors to the ring are focussed surfers of the ring's topic or field of interest. This benefits those websites who invites quality visitors.Reciprocating links: A webring is a unidirectional reciprocating link and is considered more "natural" links by search engines, and hence considered to have more value than the usual two-way reciprocal links.
Creating communities:
Webrings is an easy way to find other individuals who share the passion for a specific topic of interest. It helps make friends and build bridges, to learn from each other and to extend help to other ring members.