I'm currently on vacation, but luckily I happen to have my towel with me (see also: http://www.goodreads.com/quotes/24779-a-towel-the-hitchhiker-s-guide-to-the-galaxy-says-is) and even managed to find a place to hang it from (the railing of some stairs), just so that I can do my RC/PE work - no access to rings here. Actually, I don't mind the rings missing so much, because the towel variant is so much more demanding on the grip - I can wholeheartedly recommend it to anyone who doesn't feel challenged in grip strength doing the RC series.
As a matter of fact, I was just wondering if it would be beneficial to use this variant during normal workouts - are the any drawbacks vs the rings? My grip could use some extra work... I was also thinking about adding some extra finger/wrist stretches at the end.