  We construct excited states of fundamental strings that admit a semiclassical
description as rotating circular loops of string. We identify them with the
supergravity solutions for rotating dipole rings. The identification involves a
precise match of the mass, radius and angular momentum of the two systems.
Moreover, the degeneracy of the string state reproduces the parametric
dependence of the entropy in the supergravity description. When the solutions
possess two macroscopic angular momenta, they are better described as toroidal
configurations (tubular loops) instead of loops of string. We argue that the
decay of the string state can be interpreted as superradiant emission of quanta
from the ergoregion of the rotating ring.
