Risky Ring is a huge pain in the ass to make because there are so many levels of crafting for that thing.
The first ingredient is a Fairy Ring, which has a crafting process of its own as follows: Emerald Ring x1 (which has its OWN crafting process: bronze ore x8, powdered gold x6, pink emerald x1, Trobala jade x1; bronze you get from goblins at Ilraut Road, gold you can get from the soldiers at Balnaul Road, send out cats to Tataul Mine for pink emerald, send out cats to Trobalan Road for jade) Sacred crystal x2 (you probably have a lot of these already, they are blue, rectangular shaped crystals; send out cats to Faizabard Swamp, Ni Akeria Spirit Mountain, King's Hunting Ground, Seirai Tundra, and probably other locations) Holy ash x2 (cats to Milla's shrine) Spirit stone fragment x1 (cats to Ni Akeria Spirit Mountain)
This is just for the Fairy Ring mind you. For the rest of the ingredients for Risky Ring: Sharp fang x5 (cats to Samangan Port, Ni Akeria Spirit Mtn, Seirai Tundra) Talas Cactus x2 (cats to Talas Road) Garitsuri leaves x2 (cats to Gari Road)
I hated crafting this stupid ring. >:C
Blue Sephira: Sephira (if you need to know how to craft this just ask) Indigo marble x5 (you probably have a bunch already, send cats out to Faizabard Swamp, Gari Road, and probably other places) Crystallized snow x1 (cats to Seirai Tundra) Gold frog eggs x2 (cats to Faizabard Swamp)
For all cat dispatch items, I recommend you make use of the Sunday bonus (x3 to the number of items the cats find) along with the canned cat food.
Also I translated the names myself, if you need any clarification on location or what exactly the item is, just ask.