Have a look at the My 2uF blog for some interesting developments of an 8 RGB LED Ring project. There is lots of blog entries covering everything from board design to a working demo of project. He is using an interesting RGB surface mount LED, they seem to be very susceptible to heat which sounds like they would be hard to work with.

“The board contains an ATmega168 chip, a few resistors, capacitors and headers and of course 8 RGB LEDs.

- These LEDS die like flies. Touch’em twice with the iron and they’re dead as a doornail.
- They also seem to suck in the flux and short out.
- I’m down to just one working board, as I’ve killed 5 LEDs today.”