My purchased ringtones are gone from my 5s after updating to 8.1.1? I updated my iPhone to iOS 8.1.1 last week. All data got restored correctly (i.e. I could access my apps, documents, etc) after the update with the exception of my ringtones.
However, I no longer see my purchased ringtones in the list under Settings > Sounds > Ringtones.

I saw a similar thread whose solution mentioned running iTunes and syncing the iPhone, so I made sure to sync iTunes with the iPhone - still nothing.

EDIT: I could not recover anything under the Purchased tab in iTunes.
I just updated to iOS 8.1.2 which was released last evening and the issue is fixed.

Apple listed this as one bug that the update is intended to fix, so it's pretty clear this bug was recently introduced and not something anyone did incorrectly.