A flame, equivalent in brightness to a torch, springs forth from an object that you touch.
If you cast Continual Flame on a Fine-sized object, like a ring, would it cast a very small amount of light in line with a Fine-sized torch? Or would it cast light equivalent to a regular sized torch?
It always casts light equivalent to a Torch, no matter the size of the object.
A torch burns for 1 hour, shedding normal light in a 20-foot radius and increasing the light level by one step for an additional 20 feet beyond that area (darkness becomes dim light and dim light becomes normal light). A torch does not increase the light level in normal light or bright light. If a torch is used in combat, treat it as a one-handed improvised weapon that deals bludgeoning damage equal to that of a gauntlet of its size, plus 1 point of fire damage.
However, size may matter for partially obscured objects - if you obscure the object, it's light disappears as well. Hence, casting it on your armor may be more reliable than doing so on a ring or other trinket, since it's harder for any enemies to non-magically obscure it. An enemy might try to throw a piece of clothing over your hand if you have a ring emitting light - that's a lot harder if it's on your armor instead.
