Kann mir jemand sagen, was diese Gravur sagt?

could you upload a blurrier picture?

What is the context? How old is the ring, how old the engraving? Are you certain it is in German?

I see „Yoga feh“.

Was your grandmother a Jewish woman who disliked ancient Indian body-centric rituals, by chance?

Any chance this is just her signature in Sütterlin or Kurrent?