A “ring of fire” occurs when the moon appears smaller in the sky than the sun, so doesn’t block all of its light. In effect what will happen will be a partial solar eclipse. As the New Moon covers the sun’s center, its outer edges will form an annulus—a “ring of fire”—though only 91% of the sun will be blocked.
Those in the path will see a perfect circle for a few minutes—the closer you are to that centerline, the longer it will last—though it’s a diminishing return. All you really have to do is stay away from the southern and northern limits of the path, where the “ring of fire” will last for just a second.... [+]
it will be possible to see Baily's beads—though only through solar eclipse glasses. Here's an example for Lava Butte south of Bend, Oregon.However, some eclipse-chasers like to observe an annular solar eclipse from the edge because what they lose in duration they gain in another way. From the “grazing zone” at the edge it’s possible to see beads of light fizzing around where the limb of the moon appears to touch the sun.
That’s a sight primarily for specialists—most will want to head further into the path to properly see the grand sight of a “ring of fire.” Either way, it’s time to make a plan!