That '70s Show - Season 7 Episode 1
Time Is on My Side

A week after Eric and Donnas engagement was called off, they are both on good terms, but have to make big decisions regarding their futures. Donna gets a new look, and Eric decides to take a year off, but to do that he needs to sell Donnas engagement ring to get some money. Theres only one problem with his plan: Donna threw it off the water tower. Also, Bob is torn between Pam and Midge, and Red puts pressure on him (only because Kitty pressured Red) to choose between them. However, one of them takes the decision out of Bobs hands.