This is an Chairman Mao Zedong watch. His hand is waving up and down every second.
Most of these watches are with a red background.
Very cool watch to wear. With this crazy watch you will be noticed at any party or gathering. Supercool. Cultural Revolution collectors call this the Mickey Mao watch because Walt Disney was the first to make a watch with a waving hand of Mickey Mouse. Obtained in China and taken out.
Also there are Mao Zedong clocks with waving hands.