My friend had an engagement party which included mini top hats filled with jelly beans as decoration. I just HAD to make something out of one of them :-)
Get your mini top hat and add lace to the bottom with glue. Add Ribbon to the hat above the brim if the ribbon already there does not match (my hat originally had gold ribbon on it).
Stick the hat to the headband at an angle (research mini top hats on the web if you don't understand what I mean about wearing these hats at an angle).
Dismantle your old watch so that you only have the face of the clock (non-digital unless you want a futuristic vibe).
Stick this onto your hat.
Tie the rest of your ribbon into a bow and stick it on so that it will dangle down into your hair.
Let all the glued bits dry then wear!