You will need:
1 sheet of grunge board
1 set of hitch fasteners (Tim Holtz idea-ology)
an old watch
scisors or sharp cutters
hole setter
various ink pads etc
stamps
Try if the flap fits nicely and make necessary adjustments.
You should also mark where the holes for the fasteners which fix your bracelet to the watch should go. I did this by actually putting the watch/bracelet around my wrist and marking where I wanted them to go. I am not keen on measuring and I tend to just use my eyes for this. Not always accurate but works for me. However if you want it equal on both sides just use a ruler! Remember though that if you measure it whilst flat the holes will be slightly offset when it's around your wrist so allow for the curve in your measurements!
Try out the hole for size and ease the fastener in and out a couple of times to make sure it fits nicely.
I colour both sides but it's up to you. However make sure you ink the edges to give it a more professional finish.
Most people use the hitch fasteners for fixing the little flaps down but I used some brads because the watch had bling around the face and the hitch fasteners are all in antique colours and I didn't feel it matched. Anyway it works for me but you might prefer the fasteners.
I was so pleased with the results that I decided to make a bracelet too. That's even easier since all you have to measure is the length and width of the bracelet and then decorate it! You can dry emboss, heat emboss, use shimmers etc... You could even use your big shot to cut nice edges or fret work so really the limit is your imagination!
My friends are already asking me to make them one to go with particular outfits!
Having read my explanations I thought you might need to hear it from the professionals and I found this lady who does it much better. Take a look at her site and video tutorial here