My kids really love the Timex Kids' Time Teacher watches - we have one with a purple monkey stretch band and one with a blue band with cars and trucks.  We looked around for the longest time before finding these watches - our kids wanted watches, but we really struggled to find simple, inexpensive analog kids' watches (you'd think it would be pretty simple!).

PROS
+ display is very easy to read

+ band has cool and interesting graphics on it that kids want to wear

+ inexpensive watch

+ your kids learn to tell time with a real watch

+ durable watch

+ watch is easy to put on

CONS
- Not all of the watches seem to have a second hand

- Not all of the watches are as legible as others

- No date feature on the watch

All in all, very much recommend the Timex Kids Time Teacher Purple Monkey as well as Timex Kids Time Teacher Blue Cars and Trucks Stretch Band Watches, as well as others of the same basic design from Timex.