Shire girl Cheyenne Tozzi / Supplied Source: Supplied

Tozzi, 21, revealed to Confidential yesterday that she recently began dating Maggio Cipriani - a model and heir to the Cipriani restaurant empire that includes Harry Cipriani on Fifth Avenue and New York's "it" eatery, Cipriani Downtown.

But the pair, who met through friends on the New York social scene, are definitely not engaged - despite the ring sighting on "that" finger.

In town to promote the 30 Days of Fashion and Beauty for ACP magazines , Tozzi held up the offending ring and said she often swapped fingers after long flights.

"No, I just swap it because sometimes they get swollen ... my fingers ... from flying," Tozzi said yesterday.

"But no, not engaged. But happy."

Cipriani, 20, was previously linked to a leggy Brazilian model while Tozzi, who counts Paris Hilton among her BFFs, has had a string of high profile flings, the most notable with veteran actor Mickey Rourke and, prior to that, US oil heir Brandon Davis, rap producer Ryan Leslie (who is now dating model Nicole Trunfio) and Aussie surfer Taj Burrow.

As for her long-awaited musical debut, which she describes as a "very soul, fresh and fun" event, Tozzi promises a launch party in Cronulla "soon".

"Big party. You'll be invited," she said.