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COOPER: “Don’t take the ring, Laura. Don’t take the ring.”
The Ring, besides angels, is another concept that appears only in the movie. The Ring with the ‘Owl Cave’ symbol surfaces a number of times: on Teresa’s hand (when Laura recalls the events from The Blue Diamond Hotel; on the photo in her trailer, but interestingly enough, not on her corpse!); beneath the trailer, where Desmond finds it; on the Formica table in ‘The Meeting Above the Convenience Store’ scene (LITTLE MAN FROM ANOTHER PLACE: “With this ring, I thee wed.”); in Laura’s dream of the Red Room (LMFAP offers it to her) and in her hand a moment after that; on Mike’s little finger in the traffic jam scene (another warning?); and finally, in the traincar, when the Ring suddenly emerges out of nothing for Laura to place it on her wedding finger (the same finger under the nail of which Leland found dirt where the letter would be discovered afterwards). The Ring also appears in the screenplay when Annie lies in the hospital, being rescued “from the Red Room.” The nurse sees the Ring on Annie, takes it, and puts it on her own finger.
Based on everything stated above, several conclusions could be drawn. First of all, the Ring is not a material object, but merely a symbol. Although there are some indications that it represents death, we would rather suggest that the Ring is another one of the numerous circular symbols in Twin Peaks (the fan, the Red Room, the sycamore trees, etc.). these symbols stand for the circle life, the closure of the circle, fundamental decisions and encircling of events leading to an inevitably conditioned end.
The ‘Owl Cave’ sign engraved on the Ring must somehow be connected to the BL; however, by no means should that be the reason to interpret the Ring as a symbol of evil. In the traincar scene, Laura makes a choice to take the Ring. This decision leads to her victory over the dark forces of the BL, because her purity remains intact. Indeed, in the movie’s conclusion, she doesn’t end up in the darkness of the BL but rather in ANOTHER PLACE…