The field of magnonics, which aims at using spin waves as carriers in data processing devices, has attracted increasing interest in recent years. We present and study micromagnetically a nonlinear nanoscale magnonic ring resonator device for enabling implementations of magnonic logic gates and neuromorphic magnonic circuits. In the linear regime, this device efficiently suppresses spin-wave transmission using the phenomenon of critical resonant coupling, thus exhibiting the behavior of a notch filter. By increasing the spin-wave input power, the resonance frequency is shifted leading to transmission curves, depending on the frequency, reminiscent of the activation functions of neurons or showing the characteristics of a power limiter. An analytical theory is developed to describe the transmission curve of magnonic ring resonators in the linear and nonlinear regimes and validated by a comprehensive micromagnetic study. The proposed magnonic ring resonator provides a multi-functional nonlinear building block for unconventional magnonic circuits.