> What would be the simplest way to go about this?

It'll probably help to use an existing graphing package, as this will 
take care of some of the tricky things for you such as scaling of axis 
limits and plot styles.

Perhaps Gnuplot would work? Depending on which OS you are using it can 
be easy to set up and use from Ruby, but you will have to become a 
little familiar with Gnuplot to be able to control some things. I wrote 
about using Gnuplot with Ruby recently:
 http://blog.chrislowis.co.uk/2008/12/01/curve-fit-with-ruby-gsl.html

Hope this helps,

Chris


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