It’s called an omni-power watch, and basically what it does is to transform into any object you want(armor, vehicle, weapon, etc.) depending on the form/s you choose. The powers this watch possesses is Omnifarious, Power Suit, Object creation, and Infinite supply.
It’s kinda like the omnitrix, but not entirely. This watch can only turn into objects you can wield or suits that’ll grant you powers of certain forms, and it’s a touchscreen to help you choose the object or suit and which form or forms you want on that object or suit.