The most common and most likely answer to this crossword clue is the 7 letter word ANKLETS
I've seen this crossword clue in The Guardian
A
N
K
L
E
T
S
More clues leading to the result ANKLETS
Buddy explains!

The straight part
We know that "Rings low down/Rings low down" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case rings low down/rings low down = anklets.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ANKLETS mean?
ANKLETS noun- A piece of jewelry/jewellery, resembling a bracelet but worn around the ankle.
- An ankle sock.