This ring(s), located about 3 degrees north west of Alpha Cigni,  is a rarely imaged object, sitting in one of the few quiet areas of Cygnus, area populated only by majestic filaments of galactic matter, and by the ancient open cluster Berkeley 89 visible close to the right side of our image. I learnt about this object by coming across a rare and beautiful image taken and published by @James E. here in Astrobin.
To get the full astrometric information of the object, please kindly navigate to the revision G, with stars that could be plate-solved by AstroBin.

The Nameless Red Twin Rings
I have found no specific information: no name, no distance evaluation, nothing. It is probably a remnant of a past high energy event, or perhaps two events: it may be noted that there is a second, blurrier, ring, intersecting the main one (see Picture 1). For the sake of precision, what appears to be the main ring, is in fact the union of the two internal sectors of the two rings.
It looks like there were two successive expansions events with centers slightly shifted. Anyway the ring shape is IMHO not fitting the model of an explosion that would call more for a spherical shell.
Tadpole like structures are visible on the edge of the main ring. That might be an indication of stellar formation activity.
Work for professional astronomers!


Picture 1: The primary ring (blue), and the secondary one (yellow). Potential tadpoles are pointed by the blue arrows.

Berkeley 89 Open Cluster
I've retrieved only one study (*) by astronomers of the Istanbul University, with commented information about Berkeley 89. It is based on Gaia data.
According to the paper, Berkeley 89 is 3.2 billion years old and is located some 7900 light years away from the Earth.
It has a radius of about 37.1 light years and its total mass is about 154.7 solar masses.

(*) Hikmet Çakmak, Yüksel Karataş, A Dynamical Evolution Study of the Open Clusters: Berkeley 10, Berkeley 81, Berkeley 89 and Ruprecht 135. arXiv:2204.07745v3 [astro-ph.GA]


Picture 2: The ancient, 3.2 billion years old, Berkeley 89 Open Cluster

By the way: The Berkeley Open Cluster Catalog
In 1958, Berkeley astronomers Gosta Lynga and Jiri Alter published a catalog of Star Clusters and Associations, compiled in CCD photometry studies by various astronomers at the University of California at Berkeley. The catalog is a collection of 104 extremely old open star clusters identified from the Palomar Observatory Sky Survey (POSS) plates.
It includes the currently oldest known open star cluster in the Milky-Way, Berkeley-17, estimated at around 10.7 billion years old.
While some of the 'Berkeley' objects are already listed under other catalog designations such as 'NGC', the majority are unique objects, not listed in any other prior catalog.

(excerpted from stellar-journeys.org)