You should be able to. A webring is nothing but a bunch of sites linking to each other. The occasional and traditional format was to link to the next person and to the last person. Thus if someone follows the links they go one by one to all of the users in the ring (or quit beforehand.)
Now webrings tend to list all the members in them in an area. For example if there are 450 people in a ring, each person will list all 450 links. This will not work for your hubpages profiles etc.
But if you wish to say your part of a ring on your profile and then link to one address that links to them all then that you can do.
"I am a talented artist. I love using colored pencils, crayons, and pastels as my mediums. I am one of many artists who enjoy the same kind of mediums called Innerkids. I am also a member of the Artists Association of America and take part in the annual Master Pencil competition. "
The link to the ring would be Innerkids. You would also link to the Artists Association of America website and the Master pencil Competition website. These are determined as "Credentials." If all members of that ring or that site do list to your profile/hub/hubs then those are called backlinks and nothing else.
It could be a wonderful source of traffic but most webrings have rules such as using an image. Those you can only have on individual hubs and must follow the image rules of hubpages (no porn, drugs, etc)
Hope this helps,