Speak with Varric in his room at The Hanged Man to give him the gift. This triggers a conversation of Varric showing surprise that Hawke managed to find his father's signet ring as Bartrand had pawned it off to pay for the expedition to the Deep Roads.
With existing friendship: Varric: friendship (+15) (on xbox360 Varric: friendship (+25) by selecting the witty option)
With existing rivalry: Varric: rivalry (+15)
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