Depp has been spotted wearing a diamond ring on his left hand and he recently explained it was originally intended for his partner, but was two big.
He has now revealed he went to great trouble to design the ring himself, but had to give up and buy another from an antique jewellery store.
However, he is giving his The Rum Diary co-star the chance to pick her favourite of the two pieces.
He says, "I made some drawings which were maybe a bit out of proportion because I didn't know what numbers meant in terms of diamond size. So boom! It came back and I realised that the diamond was the size of a human eye and might be a little uncomfortable to wear. If she's walking down the street and waves, the glare could burn someone's retina. So I got her this one from a wonderful antique jewellery person in New York. And it hasn't left my finger since. I'll get it fitted to her finger and she can decide which one she wants."