net-http-timeouts.rb

require "net/http"
http = Net::HTTP.new("example.com")
http.open_timeout = 2
http.read_timeout = 3 # Must be greater than open_timeout
begin
  http.start
  begin
    http.request_get("/whatever?") do |res|
      res.read_body
    end
  rescue Timeout::Error
    puts "Timeout due to reading"
  end
rescue Timeout::Error
  puts "Timeout due to connecting"
end