I'm not sure exactly what the specific story is about hair pins and watches. It could be a story where a hair pin is used to fix a broken watch strap, or perhaps a more magical story where a hair pin has some special power related to a watch, like opening a secret compartment in it.
Queen Pins is not based on any actual events or people. It's the imagination of the writers and creators, crafted to provide an engaging and fictional narrative for viewers.