Yes, Ruby is a programming language. Admittedly I haven't tried it on Windows, but it is incredibly easy to get working on Mac.
Basically, there are two parts you need to worry about - the Ruby interpreter, and RubyGems. The interpreter just handles running the Ruby programs, kind of like runtime libraries for Windows apps - once you have it installed, you're set. RubyGems is a package manager for programs written in Ruby. It takes care of downloading and installing programs for you. So, for example, all you need to type is 'gem install X' (where X is the name of the program you want to use), and RubyGems will download the program and install it for you so it's ready to be used. For PDFBeads, you need to install three gems: pdfbeads, hpricot and rmagick (which has its own Windows FAQ and one-click installer here:
http://rmagick.rubyforge.org/install-faq.html#win).
The official ruby-lang.org site links to a single installer for Windows that sets up a Ruby and RubyGems environment for you:
http://rubyinstaller.org/Sorry this isn't more convenient. Microsoft should include Ruby like Apple does.

The opinions expressed in this post are my own and do not necessarily represent those of the Canadian Museum for Human Rights.