Interestingly enough I have found a free "faux-lex" watch...made of paper!
Video: How to Make a Papercraft Rolex Watch « How-To News
This papercraft was designed by Matthew Nicholson, and it looks quite real, well for something made of paper, and, as far as i am concerned, is the only paper watch you can make. I am in the process of making one until my next order ships, all you need is scissors, hobby knife, and card stock (printer of course).
I thought it was pretty interesting...