I would like to count the number of inequivalent ways to arrange $2N$ colored beads on a ring if there are $N$ colors and $2$ beads of each color.
By "inequivalent' I mean inequivalent under (1) rotating the ring (2) flipping the ring (3) exchanging any two beads of the same color.
HINT Start by considering the ways to arrange your beads in a straight line.
Then it will become easier to know how to avoid counting repeated combinations.