A group of friends are getting ready for dates when one of them, Diana, discovers that her rings, a gift from her mother, are missing. The group suspects that the "losers" (a group of boys they don't like) might have stolen them, but after confronting them, they realize it wasn't them. Meanwhile, a boy named Smile is acting suspiciously and is revealed to have a secret girlfriend, Molly, who has green hair. It is discovered that Smile stole Diana's rings and gave them to Molly, leading to a confrontation and a broken relationship between Smile and Diana.
Here are the key facts extracted from the text:
1. A girl named Diana lost her rings.
2. The rings were a gift from her mother.
3. Diana and her friends suspected that the "losers" had stolen the rings.
4. The losers denied stealing the rings.
5. Smile, a friend of Diana's, offered to help find the thief.
6. Smile had been acting strangely and was found to have been hiding a girl with green hair in a trailer.
7. The girl with green hair was wearing Diana's rings.
8. Smile introduced the girl with green hair as his sister, but she revealed that she was actually his girlfriend.
9. Diana was upset that Smile had traded her for the girl with green hair.
10. Smile had given the girl with green hair the rings.
11. Diana considered dyeing her hair green to compete with the girl with green hair.
12. The story ends with the cheerleaders in a state of panic and grief.