I got a class ring from my Master’s program a few years ago. To me it is a good memory and a souvenir of an accomplishment. Some friends have teased that this is a faux pas, something I’ve never considered. Is a grad school class ring OK? Is this something dorky that should end up in my jewelry box?
If something is of value to you, it is of value to you. As long as it does not harm anyone/anything, who cares what other people think about it!
I got one from my PhD program. Then again, I went to a school where the class ring was a very big deal in general.
I had a boss who had one from his Masters (Notre Dame). He was very proud that he got his post-grad from a well-known school, (he was also a big fan of their sports teams). To each his/her own.