technically, a ring of this sort is a "chevalière" (fem.) not a "chevalier" (masc.)
Well, the title in masculine form could be a reference to the man who "wins", the "chevalier". Fine, fine, I'll leave! But first I'm going to bother these peanuts! Hmm? Yes? Hmm? HMM?
As far as I remember they were talking about the ring as the op says