I was browsing through the Crafts magazine in the library yesterday when I came across a piece on this clock, designed by Siren Elise Wilhelmsen.
It is based on a larger version of a French knitting/ Knitting Nancy toy, I think, with 48 prongs instead of the common four. The clock knits a complete round of 48 stitches every 24 hours, and over the course of a year it produces 2 metres of knitting. At the end of that time, you change the yarn and start again - each ball of yarn is labelled "Mehr Zeit", or "More time". And you can use the clock's knitting as a scarf, or else hang it up to symbolise Time Past, I suppose. Probably not very practical for accurate timing, but isn't it cool?