Ribbon eels are a very difficult type of eel to keep in captivity as there are often reluctant to take foods offered to them, both frozen and live. Many keepers note that the ribbon eel just stops eating all together after capture, and others note that the eels waste away in captivity. After getting past the initial issue of getting a ribbon eel to feed, other hobbyists have found them to be incredible escape artists, squeezing through the tiniest of gaps. They're really not a newbie friendly pet, nor even an experienced keeper's pet.
The ribbon eel is a truly unique animal. They change colors as they grow older, into either blue/yellow or black/yellow, which had people thinking that there were two different species as opposed to genders with two different color patternings. Unlike other members of the moray eel family, the ribbon eel will sometimes borrow in the sand instead of finding cave or rock holes, rather like a garden eel. In captivity, the ribbon eel is more apt to just find a nice crevasse to hide in, since most tanks don't offer a sufficient sand bed for burrowing. Like their moray cousins, the ribbon eel will hand out of whatever home they chose, with their mouths hanging open, seemingly menacingly (they're breathing though) and looking packed with personality. Definitely an intriguing animal to say the least.
I would steer clear of the ribbon eel if I were you. It's about the same kind of game as attempting to keep a moorish idol. With our current knowledge of their care and needs, the odds are NOT in your favor of keeping one alive for very long, and even worse as a new keeper.
As an alternative, there is the snowflake eel. While not as brightly colored as the blue (black) ribbon eels, the snowflake eel has neat patterns of black blotches/speckles on a white background (usually fading into a creamy yellow). They're far easier to keep and much more commonly available. They don't get too terribly large (actually, about the same length as the ribbon) and usually adjust pretty quickly to captive feeding programs. That and snowflake eels are very tough, hardy eels, like many of the other moray eels. A very sturdy, reliable animal.
.... it's just, despite what everyone says about them being kept with small fish... I wouldn't personally recommend it. Snowflake eels naturally prey upon shrimp and small invertebrates in the wild, but that isn't to say that snowflakes aren't opportunistic feeders that will go for small fish. That and well meaning LFS employees trying to coax new specimens to feed will often accidentally condition snowflake eels to develop a feeding response to small fish by feeding them live minnows, guppies, or other livebearers. This is not to say that it can't be done. I'm just a big believer in the thought that, if I wouldn't do it in my own tank, I won't recommend it to someone else.
Hope this answered your questions on the ribbon as well as possibly offered a different, more newbie friendly animal! Good luck with your eel endeavors!