In a large punch bowl, combine the orange juice, vodka, lemon juice, and grenadine. Add the club soda and ice ring (see recipe notes) when ready to serve.
Notes
To make ice rings: pour water into a jello mold ring- you can add maraschino cherries for color. Freeze. Run warm water over bottom of mold to remove the frozen ice ring. You can also freeze a mixture of lemon and orange juices. This will keep your punch from becoming "watered down."
Alternately, put a maraschino cherry in each cavity of an ice cube tray. Fill with water and freeze. Put a few cubes in each glass before pouring in punch.