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A girl is sent to live with her grandparents in the countryside for the summer, but she's bored as there's nothing to do. She begins to explore abandoned buildings in the town's outskirts, and she stumbles across a pocket-watch that seems to have some value. But later, when she has a wardrobe malfunction in front of a group of boys, she clutches the watch tightly while trying to redress, only to wind up a few minutes back in time, able to safely prevent her clothes from coming off at that moment.
She experiments with the watch a bit, learning the limits to its power as well as its strengths. Realizing the potential of this watch, she decides to start a summer of flashing. Streaking around town, doing daring things, and simply rewinding all of the consequences away.
After a while, though, she starts to use the watch less and less, whether it's because she's better at avoiding getting caught or because she's getting better and better at explaining away her random 'clothing malfunctions' to people.
One day, she decides to leave the watch at home and walk about the town completely naked. She gives the crowds a show if they ask for one, lets people fondle her, and overall behaves in a totally shameless way, knowing she can simply undo the effects when she gets home.
Ending A has her realize that everything went so much better than she expected and she ultimately decides against undoing the final day of her vacation, giving the small town she's leaving one last memory of her.
Ending B has her get home after a few extreme public scenes only to accidentally drop the clock and have it shatter on the ground, completely beyond her capability to repair.