It's probably older than the naval hero Tordenskiold. It's called "Take the ring and let it wander". It involves a bunch of children, a small ring and a guessing game about who has the ring. And a song that is sung along the way. No expensive or dangerous toys like in the 50s or 60s. About 10-15 years ago I modified the lyric a bit and got something with a more spiritual meaning.

Ta den ring og la den vandre
fra den ene til den andre
ringen er sluttet i det blå
dithen skal vi atter gå

I'll translate it into English for you.

Take the ring and let it wander
from the one and to the other
the ring is closed up in the blue
Our return is soon to be due

What is the ring ? It is two things. It's a signet ring passed and it's a ring of people to whom the signet ring belongs. The ring of people grows but it is closed or anchored in heaven, from where the signet ring is issued.

It's an ongoing game but it isn't a children's game.