Let there be a point peg at every $\mathbb{Z}^2$ lattice point. Let a ring be a radius $r$ circle.
Q1. Which value of $r$ maximizes the chance that a randomly placed ring will enclose exactly one peg?
Small $r$ may capture no pegs; large $r$ may capture more than one peg.
I know this is elementary, but I am not seeing an easy route to calculate $r$. My real question is this generalization:
Q2. Which value of $r$ maximizes the chance that a randomly placed $(d{-}1)$ sphere in $\mathbb{R}^d$ will enclose exactly one lattice point of $\mathbb{Z}^d$?
Questions inspired by "ring toss":
(Image from gameplanent.)
Added. Following @GussB's suggestion, I compute $r=0.541$:

In order to evaluate the probability for a fixed $r$, you can draw a circle of radius $r$ around each lattice point. The proportion of $\mathbb{R}^2$ that is in precisely one circle is the probability you are looking for.
Note that it suffices to compute this proportion inside the square (0,0), (0,1), (1,1), (1,0) due to the fact that the pattern is repeated. Moreover for optimal $r$, we must have $0 < r < \frac12\sqrt{2}$, so that each point of the square is in either 0, 1 or 2 circles.
In this square, there are four quarters of a circle, with a combined area of $\pi r^2$. From that we have to subtract the overlapping area twice. Let $A_1(r)$ denote the intersection area of two circles of radius $r$ whose centers are at distance $1$ of each other, which can be computed exactly. Then the probability you are looking for is $$\pi r^2 - 4 A_1(r),$$ which should then be maximized on the interval $0 < r < \frac12\sqrt{2}$ to answer your first question.
This approach generalizes to dimension $d$, although you may have to take into account more than 2 spheres intersecting.