The magic ring is a really useful crochet technique for beginning round crochet projects. Rather than leaving a large hole in the middle of your project, like making a ring out of chain stitch, you can pull a magic ring as tight as you like, because it essentially functions like a drawstring. It's also a regular technique in Amigurumi crochet (making stuffed toys).
It's possibly not the best technique to start with if you're an absolute beginner (my apologies to the beginners in the last workshop that I ran...), but with a bit of practice, you'll totally be all over it.
Thank you so much for this tutorial! I bought supplies from you a while back and have finally decided to start crocheting. Looking at a tutorial for a basket, I was so stumped at all of the terminology but this was sooooo helpful – thanks so much ☺️