Mariah's ENGAGED... and sportin' and USED ENGAGEMENT RING!

Check out this posting from PEREZHILTON.COM

"That engagement ring Mariah Carey's been sporting looks AWFUlly familiar!

The rock appears to be identical to the one that Nick Cannon gave his former fiance, Vctoria's Secret model Selita.

Hey, he spent a lot of money on it and after his ex returned it, Nick wanted to put it to good use!

If it is the same ring, should Mimi be pissed???????

We think regifting an engagement ring is kinda….ridiculously TACKY!!!!!

Update:

A source close to Cannon's ex-fiance, Selita, confirms exclusively to PerezHilton.com, "That IS the same ring." "

So Ladies... Would you care if your man gave you a USED RING?