Kool Kovers Cleat Covers - Little White Plastic Ring?

I just ordered a set of Kool Kovers for my Keo cleats. They came attached to a wire clip whose utility seems obvious. I can clip them to something like my saddle for storing. But also on that metal clip is a small white plastic ring, smaller than a US dime in diameter. It’s not a split ring like a keychain. I can’t think of what this is for but it appears in lots of product pictures making me think it’s not just an anomaly on mine. Does anyone know what this is?