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The players do! (or at least their parents do) The Texas public school league (the UIL) does not allow any rings, or any other benefits, to be given to student-athletes (at least not if they want to remain eligible to play). AFAIK, all private school leagues have essentially the same rule. You can perform work to raise money, but it has to be real jobs. In the past, removing Christmas trees, taking down Christmas lights, etc., have been ways that football players have been known to raise money for rings. For other sports, it varies.

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Q: If you win the Texas high school school state championship who pays for the ring?
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