Ice Ring:

1 (8-ounce) can pineapple chunks, drained
Maraschino cherries

For Punch:

1 (20-ounce) can crushed pineapple, undrained
2 (15-ounce) cans cream of coconut
1 (46-ounce) can pineapple juice, chilled
2 cups light rum, optional
1 (32-ounce) bottle club soda, chilled

Prepare ice ring in advance. Fill ring mold with water to with 1-inch of top rim; freeze. Arrange pineapple chunks and maraschino cherries on top of ice. Carefully pour small amount of cold water over fruits; freeze.

In blender container, combine crushed pineapple and cream of coconut; blend until smooth. In large punch bowl, combine pineapple mixture, pineapple juice and rum, if desired. Just before serving, add club soda and ice ring.