Dark Souls Remastered | Tutorial to get Rusted Iron Ring

You have to beat the gargoyles (Bell Gargoyle boss fight) and ring the First Bell of Awakening before the crow appears in Firelink Shrine that provides you transport back to Northern Undead Asylum. Before going back, you should pick up the Undead Asylum F2 West Key. Once returning, you can use this key to obtain the Rusted Iron Ring, which removes the movement speed penalty when traversing difficult terrains like deep water, swamps, and tar. This isn't a necessary item, but it's very useful.

I show a direct path to it after landing in Northern Undead Asylum in a new video and then appended the video in which I looted it.