Big congratulations are in order for pop singer, Ariana Grande and SNL cast member, Pete Davidson. The two are newly engaged and pretty darn happy about it. It also helps that Davidson dropped just about a whopping $100,000 on a custom ring.

According to TMZ, Davidson had NYC jeweler, Greg Yuna (aka Mr. Flawless), create the ring specifically for Grande back in May and it took almost two weeks to complete. The ring is a VVS1 clarity 3.03 carat diamond set in platinum.

Grande and Davidson have only been dating for a short period of time but it seems that things are going pretty good for them. Both recently got out of longterm relationships--Grande with Mac Miller and Davidson with Larry David's daughter, Cazzie David.

After the news broke of their engagement on Monday, the happy couple took to the happiest place on earth to celebrate: Disneyland. The two were all smiles and giggles as they rode the Big Thunder Mountain Railroad at Disneyland. Pictures and videos of their fun celebration were posted on Grande's social media page. She even caught Davidson on video screaming his head off on the ride. Fun times indeed.