Imposition of the pallium and conferral of the ring

Before the homily, the Holy Father receives both the pallium and the Fisherman's Ring. This part, of course, is what makes this Mass unique. The pallium is made of lamb's wool, and it's a symbol of the Holy Father's authority as the chief shepherd of the Church. The explanation on the EWTN page says:

The two Deacons, accompanied by acolytes, retrieve the Pallium and Ring and bear it to the chair of the Pope, who is seated. Standing there are the 3 heads of the Orders of Cardinals. Everyone remains standing.

The Proto-Deacon of the College makes a proclamation, after which he imposes the Pallium over the shoulders of the Holy Father, while the Schola sings Ps. 67:29.

The senior of the Cardinal Priests then leads the prayer.

The Dean of the College (Cardinal Sodano, the vice-dean under the former Dean, Joseph Ratzinger), addresses the Pope, after which he confers the Fisherman's Ring, while the Schola sings Ps. 67:29.

The Pontiff then rises, and then silently blesses all those present with the Book of the Gospel. The Scola sings in Greek, May you live long, Holy Father.

A representative of the cardinals, the bishops, the presbyterate, the deacons, religious, married, confirmed youngsters, from various parts of the world, render obedience to the Holy Father, while the Schola sings Tu es Petrus (Thou art Peter).

They're having a little trouble putting the pallium over his shoulders. The Holy Father is actually giggling. :)