At this time, there are two methods of creating ring fins... using an externalized "Inner Tube", and a multiple body tube method.
For these methods, Each separate part (all fins will be considered one part) has been given a separate color for clarity.
The inner tube method will give you an accurate appearance, but the ring it generates doesn't get calculated aerodynamically.
The multiple body tube method breaks down the inner body tube into separate segments. This method also uses an externalized inner tube (in this case the red section) to simulate the body tube under the ring fin, the ring fin is a body tube itself.
The inner tube method would need a phantom body tube to "attach" fins to it (such as you find with the Ram Jet), whereas the multiple tube method wouldn't need it.
Both methods can be decorated with "decals" to give accurate appearances.