Day 17's theme (chosen by me) was to take an inanimate object and personify it. So probably because we started watching the Lord of the Rings movies again, I decided to draw the One Ring.
I'd imagine she'd be a very ethereal--but obviously sinister--being. CitrusStorm suggested that, because the Eye of Sauron is only one eye and the ring is, in a sense, a part of him, that she should have the other eye.
The Elvish script was referenced from Citrus's copy of The Fellowship of the Ring; page 54 of his edition has the ring's script written out, so I looked at that and tried to reproduce it on the cloth.