I'm creating a first person boxing game in Opengl as a school project and I want textures and models to apply to it. A look like Wii Sport's Boxing is what I'm aiming for.
Something like this (but, you know, free)
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The problem with free is, as the saying goes, you often get what you paid for :)
A good place to find 3D models (from the good to the unbelievably ugly) is the Google 3D Warehouse. It's a huge collection of free models that can be loaded with Google's Sketchup program plus be loaded in to Google Earth if geo-referenced.
From the site, here is a model of a boxing ring that can be downloaded in Collada format as well as for Google Sketchup. You ought to be able to find a way to convert Collada to OBJ.
I like to to use TurboSquid for my models. They've got a lot of variety of free models, in a lot of different formats (md2 and obj included). The free ones are probably not the best ones to look at, but until you find yourself an artist, they're pretty good :)
There's a huge collection of Quake 2 (.md2) models over at Planet Quake