To find the approximate circumference of a circle, you can use the formula:
\[ \text{Circumference} = \pi \times \text{diameter} \]
Using \( \pi \approx 3.14 \) and a diameter of \( \frac{1}{2} \) inch, the calculation would be:
\[ \text{Circumference} = 3.14 \times \frac{1}{2} \]
\[ \text{Circumference} = 3.14 \times 0.5 = 1.57 \text{ inches} \]
Therefore, the approximate circumference of the circle is 1.57 inches.