Following a fad?
Apparently so for Sonic! This is a classic Sonic themed "Press Light" LED watch. The entire watch is covered by it's soft plastic band, that's printed with various poses for classic Stock art Sonic. Because the face is covered too, you can't just see the time. You have to actually press on the watch face (near the bottom) to activate a brightly glowing red LED in the shape of the numbers for the time. It's bright enough that it glows/shines through the rubbery designed surface so you see the time. This makes it a little less convenient than normal watches, but it is a trade-off for the literally all-over design. Watches like this are a fad in 2017.