spirit ring 
going to the southeastern part of the elven forest, you will come upon darkness, and the elven hollows.
going southeast, then south as far as you can, then east twice, you will go north all the way until you find the banshee,  kill it for the spirit key. Then go south all the way then east and there is the tortured elf spirit, type unlock shackles to release him, you will then have the spirit ring. 
go west out of there, I think, north  once or twice, then west all the way, then north all the way and northwest  and your out of the hollows