Well, I've seen uglier watches... at least it has THAT going for it! A key clue is staring you right in the face: at the bottom of the dial it says ASIAN MOVT.
CL Hong is a super-cheap East-Asian watch that appears to be invading North America via the internet. Googling CL HONG, I found (1)They sell for twenty-one dollars over on ETSY, and (2) they are given away for free as a promotion to get you to buy stuff on an internet-only wholesale outlet (LISTIA dot com). The watch isn't heavy enough to use as a paper weight, and there's no guarantee the bracelet won't turn your skin green. It may last a week or it may last a year or more...who knows?
It wouldn't surprise me if they showed up as the prize inside a box of Cracker Jack Popcorn.