The diamond in the ring is a tiny, overexposed portion of the sun peeking around the moon. The size of the diamond is determined by the exposure and the amount of sun shining through.
Such dramatic overexposure usually creates a bit of flaring, and the appearance of the flaring varies between lenses and the aperture opening in use. In general, the more the aperture is stopped down, the more dramatic the flare, including diffraction spikes coming off of the diamond.
The sun's corona outlines the ring.