The first tippet rings I used were the links of a silver chain bought at a local jewelry store. That source of tippet rings was recommended by the fellow who introduced me to making my own furled leaders. The chain was 10" long and had one hundred links, and cost ten bucks. Sacrificing half the links produced fifty tippet rings at a cost of 20 cents each. Those links were every bit as good as the pricey ones you buy from fly angling resources outlets.

More recently, I've been using the links of a small steel chain left over from a piece of jewelry my wife bought at a thrift store for an art project. The piece of jewelry cost $1.50 - so the cost of the chain was practically zero. Getting about fifty tippet rings out of the chain, even at the full cost of the jewelry of $1.50, means I'm getting right sized and good quality tippet rings about 3 cents each.