embroidery hoops have one disadvantage, in that the way they are constructed, leaves you with a very visible join, and the spectators will assume that this aids you in the trick.
You could try looking at Curtain rings. these are small, but can be used in many ring & rope effects.
I still think that your best option however, is to get used to the wieght of the proper rings.
Or, if you have any near you, take a trip to a boat chanders, and see if they have any rings that suit.
or take a trip to a pet shop, and see if you can find a rubber ring dog toy.
they might suffice.

you're like Yoda.you dont say much, but what you do say is worth listening to....
Greg Wilson about.... Me.