An O-ring won't hurt the engine. It'll probably just sink to the bottom of the oil pan.
Even if it gets caught up in the timing chain it'll just get chewed up into little bits. No way an O-ring is going to cause it to skip or jump.
There isn't enough rubber mass to clog the oil pickup screen, fine pieces that go through won't hurt the oil pump, and the rest will get caught in the filter.
Now if you had dropped a screw in there, that's a different story.
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Sometimes a bolt is just a bolt.
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