M57 - the Ring Nebula, is a small planetary nebula in the constellation of Lyra.
The nebula consists of three shells. The outer ring, which appears red, is mainly comprised of Nitrogen. The yellow-ish region is comprised of hot oxygen, which the blue-ish central region is filled with even hotter helium. In Hubble's image of the nebula, knots of dust & gas can be observed within the structure. These are thought to be clumps of matter which are too large to be dissipated by the radiative pressure from the central white dwarf star.
NASA have also published a short video which details the three dimensional nature of the nebula structure.
M57 has a very wide range of brightness levels, making it difficult to process. Outside of the main nebula there is a faint outer OIII shell which can just be seen in the 2022 image. The small barred spiral galaxy which can be seen near the nebula is IC1296/PGC62532 and is approx 245 million light years away.
For more info. see the Wikipedia entry.