Sabu and the Magic Ring (1957)

Beyond the veil of monstrous magic... a thousand things can happen to you!

Young Sabu is a happy stable boy in the kingdom of Samukan, in charge of taking care of the Caliph's elephant. Searching for a lost diamond, he finds instead a mysterious ring which, unbeknownst to Sabu, conjures up a genie when he rubs it.