The ring is a movie prop!
There were reports earlier this morning that Katie Holmes (the ex-wife and baby-mama of Tom Cruise) was engaged to Jamie Foxx. The speculation was based on a photo of her taken in New Orleans where she talks on the phone and casually sips a coffee with a diamond ring on her hand. This may come as a surprise to you readers who are Jamie Foxx fans, as the world of Katie Holmes, who made her name on Dawson's Creek, is not exactly of a piece with that of Jamie Foxx (In Living Colour, Ray, "Gold Digger").
The two have been dating for years (some sources say five), and have gone to parties together, been seen embarking on bike rides and sharing a dance but according to her rep, “Katie's not engaged to anyone besides her fictional movie fiancé, played by Jerry O’Connell.” The two are working together on The Secret, a movie based on the popular positive thinking brand that makes its money on books, apps and originally, a documentary that teaches their particular brand of self-affirmation and manifestation.
Jamie Foxx is in New Orleans too, shooting a Netflix-produced movie called "Power," which will also star Joseph Gordon-Levitt, although nobody has seen Mr. Foxx wearing an engagement ring.