The main character would most likely be the new thief. They could be an original character created just for this fanfiction.
It could be about a new character who is a thief and gets involved in the world of RWBY. Maybe they steal an important relic and the RWBY team has to track them down.
It could be the thief of time themselves. We could get to know their motives, their daily life of stealing time, and their inner thoughts. It would be a very unique perspective.
It could also be a side character like Penny. If she gets damaged in a battle and is taken to the hospital for repairs. The story could focus on how the RWBY team reacts to her situation, and Penny's own thoughts as she is being fixed. Also, it could explore the relationship between Penny and the people in the hospital who are helping her.
A grizzled veteran mercenary who has seen many battles and has a lot of combat experience. He could be cynical at first but slowly warm up to the RWBY team.
Ruby could be the main character. Since she is the protagonist in RWBY, it would be natural for her to be the one to find the ring. She could be intrigued by its power and try to figure out how to use it for good in the fight against Salem.
It could be a new character, like a street - smart orphan who has learned to steal to survive. This character sees Fairy Tail as a source of wealth at first but then discovers there's more to the guild than just gold and jewels. Another option is an ex - member of a rival guild who turns to thievery after being exiled and decides to target Fairy Tail for revenge. Or it could be a magical creature, like a mischievous imp with the power of invisibility that steals from Fairy Tail just for fun.
A tough and experienced female bounty hunter could be the main character. She could have a no - nonsense attitude and be highly skilled in combat and tracking. Maybe she has a personal vendetta against a particular group in the RWBY universe, like a band of thieves who stole from her family.
Perhaps Professor Ozpin could be turned into a mad scientist in a different take on the story. His vast knowledge and access to resources could be used in a more sinister way. He might start to believe that the only way to save Remnant is through extreme and unethical experiments. Another option could be a young prodigy who is corrupted by the power of knowledge and becomes a mad scientist. This character could be initially a friend of Team RWBY but then turn on them as his experiments spiral out of control.
Most likely Ruby. Since 'rose' is in the title and Ruby is often associated with roses in RWBY. The 'thorn' part could be something or someone that challenges her, like a new enemy or an internal struggle she has to face.
Ruby Rose could be the main character. Her optimistic and fearless nature would make her a great fit for a story involving the Green Lantern. She's always eager to take on new challenges, and if she were to get involved with the Green Lantern's power, she would be quick to try and master it to protect her friends and the world.