It’s a matter of operator precedence.
|| has a higher precedence than or.
So, in between the two you have other operators including ternary (? :) and assignment (=) so which one you choose can affect the outcome of statements.
Here’s a ruby operator precedence table.
See this question for another example using and/&&.
Also, be aware of some nasty things that could happen:
a = false || true #=> true
a #=> true
a = false or true #=> true
a #=> false
Both of the previous two statements evaluate to true, but the second sets a to false since = precedence is lower than || but higher than or.