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Young and DeGarmo exchanged wedding vows that they wrote themselves and danced to a song they co-penned together.
Designed by David Webb with the help from Young, the sparkler has a 1-carat yellow center stone with two side diamonds.
Invited to the stage by host Ryan Seacrest, the 'Idol' alum says before live audience, 'I felt this was the perfect place to ask a simple question,' and gets down on one knee to propose to DeGarmo.
"I found my true love in Grease," Ace Young says about his fiancee Allison Fischer, whom he met while making his Broadway debut as Kenickie in the revival of "Grease".