(Copied-and-Pasted from my thread at PureZC...)

Well, it wasn't hard to make, but I'm releasing it anyways, as a miniscript. Stopwatch creates a Clock item, moves it to your location, then sets a certain variable to the next-highest number. Once you use it 3 times..... Poof. It's gone before your very eyes. Now.... Since "Link->Item[]" requires an Item ID, and since you guys might put this script on a different item than I did (Hammer, since the subscreen editor crashes when you open it, though I wanted CoB. =/), I set a variable for the ID of the item. Set that variable to the ID of the item you put this item on! And no, I won't tell you what the IDs are, because they're in the file called "std.zh". Check them yourself, I'm not doing all the work for you (besides the script itself, mind you). Be grateful I even made this- I once never wanted to do this. And yes, it WAS a request... One of my first ones, I might add.

Code:
// Stopwatch- Just a simple script that creates a Clock at Link's position when used. 3 uses ONLY.
// Changable Variables:
// ID- This is the Item ID for the item this script is attached to. Please look it up in std.zh. It can't
// be predefined because you might give this script to a different item than I did. Sorry.
// Usage- How this script works. 0 = 3 uses only. 1 = Drains all magic. 2 = Drains Magic equal to variable Magic.

import "std.zh"
item script Stopwatch
{
	int ScrnItems = 0;
	int ModItem = 0;
	int Used = 0;
	int ID = 0;
	int Usage = 0;
	int Magic = 64;

	void run()
	{
		if (Usage == 0)
		{
			if (Used == 0)
			{
				Link->Item[4] = true;
				Used = 1;
			}
			else if (Used == 1)
			{
				Link->Item[4] = true;
				Used = 2;
			}
			else if (Used == 2)
			{
				Link->Item[4] = true;
				Used = 0;
				Link->Item[ID] = false;
			}
		}
		if (Usage == 1)
		{
			if (Link->MP > 0)
			{
				Link->Item[4] = true;
				Link->MP -= Link->MP;
			}
		}
		if (Usage == 2)
		{
			if (Link->MP >= Magic)
			{
				Link->Item[4] = true;
				Link->MP -= Magic;
			}
		}
	}
}
Didn't take me that long at all. I only begun it just a few minutes ago, to tell you the truth. :p Have fun with this, and if you use it, make it either hard to get, or very expensive. This thing could make Bosses WAY too easy. Might want to disable this for boss fights, or, take out everything but "Link->Item[ID] = false", and just turn that into an FFC script that takes this item away from you permanently for Boss fights. :O It's a fun way to stop people from using this item to make bosses super-easy. Enjoy. (By the way, "Link->Item[ID]" returns true if Link has the item with the ID in the brackets. If you put "Link->Item[ID] = true", you'd give him the item instantly. Placing false in place of true takes it away. And no, using that to give him the Clock won't work, because, as far as I know, it's only for items you can KEEP, thus the "You have it or you don't". If you don't keep it, you never "have" it. :p)

Edit: Whee! I guess Link->Item[4] = true WOULD give you the Clock! It works perfectly! Not only did I make my script work better (Previously, if you moved away fast enough, you could avoid picking up the Clock....), but... Well, ShadowTiger challenged me to make this item take away all your Magic (no matter what it was, as long as you had more than 0), or 2 containers. And so you have it! Again, there's a variable Magic, where you tell the script, in 32nds of a magic container, how much Magic to take away, BUT there's a new variable- Usage. Set it to 0, you get the old effect (3 uses before the item vanishes). Use that ID thing, again! Set it to 1, and it's infinite-use, but takes away whatever magic you have, if any. If you have none, nothing happens. Set it to 2, and you drain haowever much magic you put as the value of variable Magic.