The iPhone is continuously becoming the go-to device for useful applications. Their latest one takes a dip into the engagement ring market. Live Diamond Try-On, a free application produced by Stuller Diamonds and Gemvision Corp., lets you create and try on engagement rings right from your phone.

The “try-on” feature lets you take a picture of your hand. The image of the created ring is then superimposed over your hand to give the appearance of actually wearing it. You can then send the image to friends, family or as a not-so-subtle hint to your potential fiance.

There’s unfortunately no iPhone in the office, or we would have gladly took it out for a test drive. But I guess you’ll just have to download it and try it out for yourself. If you create something you like, check out our friends at Denatale Jewelers who sell the Red Box Diamonds featured in the app.