Mechanical interactions between rigid rings and flexible cables are widespread in both daily life (hanging clothes) and engineering system (closing a tether net). A reduced-order method for the dynamic analysis of sliding rings on a deformable one-dimensional (1D) rod-like object is proposed. In contrast to discretize the joint rings into multiple nodes and edges for contact detection and numerical simulation, a single point is used to reduce the order of the numerical model. In order to achieve the non-deviation condition between sliding ring and flexible rod, a novel barrier functional is derived based on incremental potential theory, and the tangent frictional interplay is later procured by a lagged dissipative formulation. The proposed barrier functional and the associated frictional functional are $C^{2}$ continuous, hence the nonlinear elastodynamic system can be solved variationally by an implicit time-stepping scheme. The numerical framework is first applied to simple examples where the analytical solutions are available for validation. Then, multiple complex practical engineering examples are considered to showcase the effectiveness of the proposed method. The simplified ring-to-rod interaction model can provide lifelike visual effect for picture animations, and also can support the optimal design for space debris removal system.