To get the floating rings, head first to Lazy Lake. You need to collect four rings, and some of them are hidden better than others.
How to Collect Floating Rings at Lazy Lake Fortnite
Lazy Lake is a named location on the south east of the map, in between Retail Row and Misty Meadows. It's a somewhat popular drop zone, so grab a weapon before going after the rings.
1 - The Tree
The first ring is found above the big tree near A Lot'o Auto. The easiest way to grab it is to drop onto it or build a ramp from the building.
2 - Big Shots
The second ring is over the umbrellas next to Big Shots. You can hop over the umbrellas to reach it.
3 - Toll Booth
This one is the easiest to find. It's just by the toll booth.
4 - No Sweat Insurance
The last one his hidden by the No Sweat Insurance building. It's hard to spot at first, but you can either build up from the ground or drop in from the roof.