Ring of Ultimate Velocity

The Ring of Ultimate Velocity is an artifact that grants the bearer incredible speed once three challenges are met. It was given to Sonic as a Christmas present from Sally, but neither knew the ring's name or powers, except for Santa Claus who recognized the "squiggle" on the ring from the pictograms in the ice cave he was imprisoned in. He also deciphered that there were three impossible challenges that need to be met so that the rings power can be used. The ring's only appearance was in "Sonic Christmas Blast", a Christmas Special of the cartoon Adventures of Sonic the Hedgehog. Other than being a Christmas present from Sally and the markings in the ice cave in the North Pole, its origins are unknown.

Impossible Challenges
While the third challenge wasn't mentioned, Sonic boarded down the cliffs as there was a floating para-glider as if waiting for him. Sonic grabbed it and ditched his snowboard (which fell on Scratch and Grounder, who have been trying to prevent him finishing the tasks).
 * Climb Ice Pick Peak.
 * Snowboard down Calamity Cliffs.

After paragliding Sonic landed on a bike where he went past further dangers like jumping icy water, collapsing path, glaciers colliding to crush him and an ice tunnel which he jumps and run over landing back on his bike.

After a bumpy ride Sonic continues into the water (which isn't as freezing as it seems, he ends up with a fish in his mouth) and crashes into a polarbear (yet happy to have received Sonic's fish). Sonic bikes the way back to Santa's workshop.

Description
When completing three deemed impossible tasks, the Ring of Ultimate Velocity gives its wearer the ability to move at incredible speeds. This power along with Sonic's own sonic-speed allows him to move at impossible speed. It allowed him to take the stolen presents and decorations from Robotnik and restore Christmas to everyone in Robotropolis and all over Mobius in a matter of minutes without tiring him (as Sonic does get tired if he travels long distances).