At the time there were several kinds of life-savers candies, including "Hot Rings" which are shown here. These were cinnamon flavored. If you think about it, it's actually pretty logical to have a Sonic/Sega contest on a ring-shaped candy! You can read the package, it says "Win Sega Now" which...tells you really nothing about the contest because it is impossible to 'win sega'. Merchandise though, is the best guess.