Paurnen also known as the "Water Fist," is a ring of blue laen unadorned except for a delicate inscription on the inside which reads in Sindarin: "The wrath of water." The ring will fire waterbolts, 100' range, as often as 3x per day. It also allows the wearer to walk on water and mists as if on dry land. The ring can create mist about the wearer, adding 30 to his DB.
This ring is wielded by Huinen, the Noldor elf that resides in Mirkwood at Ceber Fanuin. He most likely attained this ring sometime during the Second Age.