  The light curve of 1SWASP J140747.93-394542.6, a $\sim$16 Myr old star in the
Sco-Cen OB association, underwent a complex series of deep eclipses that lasted
56 days, centered on April 2007. This light curve is interpreted as the transit
of a giant ring system that is filling up a fraction of the Hill sphere of an
unseen secondary companion, J1407b. We fit the light curve with a model of an
azimuthally symmetric ring system, including spatial scales down to the
temporal limit set by the star's diameter and relative velocity. The best ring
model has 37 rings and extends out to a radius of 0.6 AU (90 million km), and
the rings have an estimated total mass on the order of $100 M_{Moon}$. The ring
system has one clearly defined gap at 0.4 AU (61 million km), which we
hypothesize is being cleared out by a $< 0.8 M_{\oplus}$ exosatellite orbiting
around J1407b. This eclipse and model implies that we are seeing a
circumplanetary disk undergoing a dynamic transition to an
exosatellite-sculpted ring structure and is one of the first seen outside our
Solar system.
