On my second trek through Middle-earth, this is what I saw:
Two shades of Gandalf
And One Ring to rule them all
"-La la la la."
Gandalf the Grey and Gandalf the White appeared in the room.
"Hey, where did you come from?" they said simultaneously.
"I'm Gandalf," they said.
"So am I," they said.
Oh boy, thought the ring. This is starting to get interesting. Maybe I'll even get some action.
"Psst, Gandalf the Grey, come over here."
Gandalf the Grey walked over to the ring. "Yes?"
"How'd you like to be even more powerful than your white self? Pick me up."
"I don't think so. I'll never become white if I go listening to evil rings." He started to walk away.
"No! Wait! Come back!"
"I'm not listening, I'm not listening!"
The ring had a flash of inspiration. "I strictly forbid you to listen to me! Keep walking!"
Gandalf the Grey stopped. The evil ring wanted him to go away? He'd better stay, then.
"I hope you're not listening to me, Gandalf the Grey, because I also don't want you to pick me up. Horribly good things will happen if you do, and as you know I'm an evil ring. I don't want you to hear what I'm saying and realize that you could use me to do good things."
Good things? Gandalf was glad the ring didn't know he was listening to what it said.
The ring laughed. Evilly.
Gandalf the Grey reached down to pick it up…