I am not 100% that it is a piston ring. Before I disassembled the bike to a pile of parts to clean and paint, I was able to ensure it does run by rebuilding the carbs, new plugs, wire caps. etc.... There wasn't any strange noises that I noticed. No real noticeable white or blue smoke from the exhaust. And it did have over 100# compression on all cylinders. The piece may very well may be from some other part of the engine...the trans area. I guess now I have to decide whether or not to leave alone and just build it and hope form the best. I am open to all advice on this one. Just to let you know I m not new to building or restoring just this is the first Honda cb. Thanks for all the help in advance.