Was it a valentines red heart ring or does it serve a purpose??!!  Read what E online has to say........

Katy Perry Wears Heart-Shaped Ring on That Finger While Out With John Mayer

David Tonnessen, PacificCoastNews.com

John Mayer may have a "very human" relationship with Katy Perry and he's "quite happy" dating her, but is he ready to be Mr. and Mrs. Happy Human?

Perry was sporting a heart-shaped, ruby ring on that finger—the one we've come to know as a gal's wedding finger—while out to her Valentine's Day dinner with Mayer last night, immediately sparking concerns, er, rumors that she and her beau of the last several months had gotten engaged.

A rep for Perry hasn't yet returned a request for comment, but we're leaning on the side of...

Russell Brand says he'll "probably" get married again

Nah, they can't be engaged yet, right?

But at least we got a chance to ogle some celebrity jewelry (from Santa Barbara, Calif.-based designer Daniel Gibbings) in the meantime!

Mayer did reveal last weekend that he's leaning toward tying the knot eventually, telling CBS Sunday Morning, "I mean, I'm still the kid from Connecticut. That's what you do."