'Bachelor' Colton Underwood and Cassie Randolph on If They'll Use Ring Jimmy Kimmel Gave Them (Exclusive)

ET sat down with the couple in New York City on Wednesday, where they opened up about their plans for engagement.

Colton Underwood and Cassie Randolph plan to do their engagement their way. 

During the pair's appearance on Jimmy Kimmel Live on Tuesday night following the Bachelor finale, Kimmel presented them with a Neil Lane ring, to use when they are ready to take the next step. The late-night host said they could hold onto the ring or swap it out for another of Lane's designs, and as Underwood and Randolph told ET on Wednesday, it seems they might do exactly that. 

"She made it known that she wants to be surprised," Underwood shared as he and Randolph did their first day of press as a couple in New York City. "I know the exact ring that she wants, so it's all about timing." 

For now, Underwood is holding onto the Neil Lane sparkler he received on Tuesday night. The three-carat diamond and platinum set ring features a princess cut, further accented with 162 round brilliant cut diamonds. 

Neil Lane

"It's going to be a conversation we have for that a little down the road," Underwood said of switching the piece out for something perfect for Randolph. "But in regards to our engagement, I think right now, we're going to enjoy dating." 

The 27-year-old former football player became the first Bachelor in five years not to propose during his season finale, since Juan Pablo Galavis' 2014 season. Though he's in good company -- about a third of Bachelors haven't proposed -- fans were shocked by Underwood's finale. After Randolph broke up with him, Underwood said goodbye to his final two women, Tayshia Adams and Hannah Goodwin, and chased Randolph down to give it another shot. 

"I'll even admit as the Bachelor, I came into it with the assumption of because you're the Bachelor, it ends in an engagement. And while that works for some people and while that's been the case the last few years, it wasn't what was best for our relationship," he explained. "I realized in that moment, I didn't want to lose Cassie, and I would do whatever it took. Forget the show at that time, I was fighting for someone that I loved, I was fighting for a relationship that I wanted to last forever."

Underwood recently relocated to Los Angeles to be closer to Randolph, though the pair haven't moved in together and plan to enjoy dating for a while. ABC, meanwhile, has shifted focus to the next installment of the Bachelor franchise, kicking off Hannah Brown's season of The Bachelorette on Underwood's "After the Final Rose" on Tuesday. 

"I mean, absolutely...  any choice they made would have been the right choice," Underwood said of Brown becoming the Bachelorette. "I think she's going to make for a very interesting and dynamic season and she's so deserving of love. She's someone that's stayed true to herself throughout the whole entire filming process."

"Yeah, I'm excited to watch her season, of course," Randolph added. "I wish her the best."

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