We present new observations of Hoag's Object, known as “the most perfect ring galaxy,“ that show that a preferred explanation for this object is (a) the formation of a triaxial elliptical galaxy some 10 Gyr ago, (b) the accretion of a large disk of neutral hydrogen at about the same time, (c) low-level star formation in the HI disk for all the time since that event triggered by the triaxial potential of the core.