E! News spoke with Greg Yuna, the jeweler who designed the pop star's diamond bauble, who says Davidson came to him about a month ago with a request for the ring.
As Yuna remembers it, "Pete called me at the end of May and said 'Look, I'm getting a ring. This is what I want.' And I told him that I had the right ring for him. He didn't tell me who it was for but told me to keep it a secret. He didn't tell me anything about it."
It took two weeks to make the pear-shaped ring, which clocks in at just over 3-carats. The Saturday Night Live star paid a whopping $93,000 for it, Yuna reveals.