To find the circumference of a circle, you can use the formula:
\[ C = \pi \times d \]
where \(C\) is the circumference and \(d\) is the diameter of the circle.
Given the diameter \(d = \frac{1}{2}\) inch, and using \( \pi \approx 3.14 \):
\[ C = 3.14 \times \frac{1}{2} \]
Calculating this gives:
\[ C = 3.14 \times 0.5 = 1.57 \text{ inches} \]
Therefore, the approximate circumference of the circle is \(1.57\) inches.