I've never seen an Italian man who wasn't affiliated with the Mafia, or didn't like to show off and act like they were connected, wear one. Nowadays or even 40, 50 years ago.
Where are you from?
Because you're dead wrong. In the New York area pinky rings are very common among Italian American men. Not just the connected ones.
"I got news for you. If it wasn't for the toilet, there would be no books." --- George Costanza.
