the use of prop in the lord of the rings the fellowship of the ring is a ring. the ring is made to look significant through the narrative, the framing of it, the characters and the use of it. its made to look significant through the narrative as Bilbo calls it his "precious" making it sound important and the fact that Gandalf said he's not the only one that has said that, shows that not only Bilbo sees it as an important object but so did other people. the fact that the hole of the narrative mainly evolves around the ring shows that it is important as it is the main focus.
its made to look significant through the framing because it is the main focus in mostly all camera shots throughout that scene and is at the centre of the screen. this naturally makes the audience think it is important because they see it at the centre of attention.
the use of the ring in the scene also shows it to be a significant object because we always see it in Bilbo's hands gripped on tight to it showing that he doesn't want to lose it, which suggests that the ring is important. also the fact that Bilbo is constantly stroking the ring, which is unusual to do, shows that it is not just a ring but something more significant than that, and that it has a deeper meaning to it.
the characters show that the ring is important because they have a fight over it and when you have a fight over something it is usually important or significant to them people, so this shows the ring is important. also Bilbo always keeps eye contact on the ring showing it is significant and special as he cant keep his eyes off of it.