The source of the story makes it quite clear it was the Union soldiers who made the rings and ornaments after the city had fallen. As for the Confederates not having the "time or inclination or market for such trinkets. The Confederates were busy with other things," I might have to disagree. The record left by the besieged Confederates shows they had ample down time and like other soldiers throughout the conflict (any conflict in history for that matter) they created a vast number of items now considered folk art. Bullets carved into chess pieces, figurines or poker chips, wood carvings, even drawings. When it was time for work, yes, the Confederates were indeed busy with other things and the massive forts at the Grand Redoubt, 3rd Louisiana Redan and Second Texas Lunette prove that. But their counterparts were far from idle. The works at Battery De Golyer, Logan's Approach and Thayer's Approach are marvels of offensive engineering. Vicksburg is a fascinating place.