Lip rings are a fairly common variety of facial
In the most frequently observed configuration, a hole is put in your face about 1 centimetre below your bottom lip, and a ring of your choice, usually a captive bead ring is inserted, looping around your lip.
It is fairly common practice to start with a ring that is too large, and have it changed later on for a smaller one. This is done in case your lip swells (it probably will). Obviously, if your lip swells too much, the ring will start to dig into it.
Also, the hole is in the proper place to put a labret if you want to do that at some point in time, though you should wait until the piercing has healed before you think about changing the jewellery.
See everything to do with body piercing.