Integrating cameras into wireless smart rings has been challenging due to size and power constraints. We introduce IRIS, the first wireless vision-enabled smart ring system for smart home interactions. Equipped with a camera, Bluetooth radio, inertial measurement unit (IMU), and an onboard battery, IRIS meets the small size, weight, and power (SWaP) requirements for ring devices. IRIS is context-aware, adapting its gesture set to the detected device, and can last for 16-24 hours on a single charge. IRIS leverages the scene semantics to achieve instance-level device recognition. In a study involving 23 participants, IRIS consistently outpaced voice commands, with a higher proportion of participants expressing a preference for IRIS over voice commands regarding toggling a device's state, granular control, and social acceptability. Our work pushes the boundary of what is possible with ring form-factor devices, addressing system challenges and opening up novel interaction capabilities.