Tom and Jerry: The Magic Ring

From Tom and Jerry Wiki

"Tom and Jerry: The Magic Ring" is about how a magical ring was entrusted to Tom by his owner, a wizard. It was to remain in a case, but it ended up on Jerry's head. In the end, it was off Jerry's head but on Tom's finger. Tom gets the boot and Jerry gets a tasty salmon which would've been for Tom if it wasn't for what happened.

[edit] Trivia

Apparently, the magic ring gave Jerry permanent magic powers as Jerry transformed the tasty salmon at the end into cheese.