If you're fed up with figuring out whether your diamond is ethical, want a high tech (yet handmade) solution, and really just want a great big shiny bling-ring anyhow, see PreciousPups answer: the accurately (albeit prosaically) named White Fake Diamond Ring. Engraved with a huge, oxidized diamond cartoon, the ring is an Oreo of sterling silver on the outside bonded to white acrylic on the inside. $95 USD plus $5.50 USD P + P. [GT]
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My fiance gave me a ZolaStar engagement ring. They're lab-created white sapphires with a carbon-bonded outer shell of lab diamond. Environmentally friendly, no human rights violations (except maybe a few lab techs :) ), and telling people about my ring gives me the same feeling of pride as explaining my grade school science fair projects. Plus, they're affordable (we're both starving students) and super sparkly.