My lesbian neighbors and my sister gave me a Rolex for my birthday. I guess they misunderstood when I said I wanted a watch.
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Explanation
Explain Bear
Listen up, buttercup. The joke here is a play on words. The person wanted "a watch" as in something to tell time, but their lesbian neighbors and sister heard "a watch" as in... well, you know. The gift of the Rolex is a fancy, expensive misunderstanding.