Golden Sage

After you defeat all four Golden Monsters in The Legend of Zelda: Oracle of Seasons, you will need to goto the Golden Sage to get a get a ring that, after being appraised, is the Red Ring. To find him you will need to go to where the first dungeon is, the Gnarled Root Dungeon, during Summer. Climb down the stairs to where the river would be, instead the water will be drained (due to it being Summer) and you will be able to go down the stair where you will find him sitting. There is no other purpose for him besides getting the Red Ring.