Using a pair of tweezers or needle-nosed pliers, try to put your wire back into place. It’s okay to use a piece of floss to tie the wire into place: tie the floss around the bracket in place of the missing coloured o-ring.
If you can’t put the wire into a comfortable position and covering the end with wax doesn’t help, use a small fingernail clipper to clip the wire behind the last tooth to which it is securely fastened. If the end of the wire is still sharp, place wax on it.