Golden Sage

After you defeat all four Golden Mosters 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, in 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 porpuse for him beyond getting the Red Ring.