craigswan:By Newton's Third law
Not so...
At the very most, you would be dealing with friction & gravity, more precisely here, than any of Newton's 3 laws of motion
Friction; conflict or animosity caused by a clash of wills, temperaments, or opinions:
Random causality, is also at play. The beads on the chain will not interlock, every time the ring is (flipped) dropped. When the beads become tighter at the bottom of the drop, they interlock with each other, in between the two outer strands of the chain, some of the time
Newton's 3rd law, "for every action, there is an equal & opposite reaction", does not apply, as there are more than two actions taking place in the above presentation
Craig's explanation, is mostly attributed to inertia...
The chain is "slowing" the rings decent, however, the end result is that of friction
Do this with an average necklace type chain, and you will have no result, other than gravity's force, leaving the ring on the surface of the landing area.
Those beads are very prevalent in science, & it's workings