Awesomeness, thx for tellin' us =)

what does it do?

Just give it to Kitana, it says it inspires an army. Im not giving it back to her though, I keep everything I find.

I still can't find it. Is it there at a certain time? Also, Kitana seems to have split.

I spoke with Kitana and she gave me the ring quest, but I never found it right away, so I moved on and did other quests. Now that I know the location of the ring, it is never there. I went and spoke with Kitana again, and she tells me to go find it still. It is odd, because I have left a lot of quests "hanging" until I found out how to solve them, and then went back and solved them. But I am having a problem going back after the ring, this is a serious issue in the game that needs to be discussed and offered to the public so they don't make a mistake.
Is it possible to get the ring later on or not?
everyone, let me know how they handled this quest and if anyone else was able to acquire this ring later on. All feedback is needed in solving the "missing ring". Thanks you all (in advance).

^ He's right, i'm having a problem with it too.

I went wondering around right after i got quest, and found it shortly after.
However my brother didnt start looking for it right away, and still hasnt found it.
Im pretty sure the ring cant be found after a certain amount of time has past.

Sure it can. I let a month pass in the game before I gave it back to Kitana. In fact, I finished conquest mode, went back and unlocked the rest of the characters and arenas then finally Liu Kang and meditated to wait for Liu Kang's alt and I STILL found the ring and gave it back to her and all she gave me was some shitty coins.