This tale has been in play as early as 700AD and has many interpretations. First written down in the 17th century, my favourite version is from Roald Dahl’s Revolting Rhymes, where Red Riding Hood “whips a pistol from her knickers” and is the heroine of the story. Hence the setting of the feature ring and the ‘Balls of Steel’ Earrings are made of 17th century flintlock pistols. In the early French version she is also known to do a strip tease for the wolf, hence the ‘Lacey Red Racey’ Diamond and Ruby Hoops!
The scissor reference is to the women who first told the spoken tale whilst sewing and on their spindles around the fire. The shank is split like a pair of scissors with a screw detailing at the base.