Well, what to say? It is an advertising Watch for Matra Automobiles. I don't know if you know this French car manufacturer. F1 world champion with Jackie Stewart in 1969, La Mans winner in 72, 73 and 74.
Aside the competition sportscars, they also produced vehicles in Romorantin (first the Djet, then Jet, then M530, then Bagheera, then Murena & Rancho. After the assembled the Espace & Avantime for Renault), where I lived. My father worked for them and brought me back this 'montre de circuit' which was given to VIP invited to attend competition where Matra was running.
Crappy caliber, no more in working order, probably not the original strap anymore, but I love it. BTW mine was broken and lost many years ago, but I found another one of the same model a few years ago, and bought it.
Very small diameter (for reference the strap is 18mm) but perfect for a 8 year old boy.