Step 1:
The paper is about 17x17 centimeters and yellow on the other side.
Prefold and cut in half.

Step 8:
Fold over these two lines.

Step 6:
Fold in half two more times

Step 13:
Glue all parts together, see arrows.

Step 12:
Bend the ring

Step 11:
Fold over these two lines, do the same on the left part of the model.

Step 10:
Fold the ring part in half. Then turn the model.

Step 9:
Fold over these two lines and press the model flat again. Do the same on the left part of the model.

Step 5:
Fold in half

Step 7:
The two folding lines (valley-folds) are 1/3 off the red edge

Step 3:
Fold the lower edge 2 times to the centerline, then unfold

Step 2:
You need one half for folding the ring with bow.
Prefold in half

Step 4:
Fold both edges to the middle of the prefolded lines, see arrows.

Step 14:
Open the bow, see arrows

Done!
This video also shows you how to fold the bow ring: