I'm still trying to figure out what I want to do for ring pillows. We'll likely have 2 ring bearers (our nephews) and no flower girl (unless we give in to mom's demands...long story, you don't want to know!).
Here is a list of contenders:
Embossed Velvet Pillows (see picture on the right for an idea... I'd probably try something with an asian feel, like bamboo from our invites, or cherry blossoms from our save the dates, or the Chinese symbol for double happiness or love).
Or, with a bit of modification, a ring book, which plays on my earlier idea of a book bouquet instead of flowers.