I have yet to find one of these dolls that actually works!  She is Timey Tell and she is supposed to help you learn to tell time when you pull the string on her back.  I believe that you set the dial on the watch on her wrist, pull the string, and she says a phrase associated with the designated hour.

I found this doll, naked, but still with her watch attached to her wrist (this is often missing or broken).  She even has her pull string, but alas, nothing happens.

I redressed her in an original dress that I found at a doll show;  a darling print with little clock faces. Her shoes and barrette are replacements. 

She was originally sold with an extra watch in the box for her new little mommy to wear.  Finding one of these today would probably be a rarity.