the author of this app says:
So you are hanging around with your buddies, and you want to find out who can consume a whole bag of circus peanuts the fastest. Luckily you have this program installed on your iPAQ, so you whip it out, set the timer, and say, "GO!"
The display is large enough to see from quite a distance and the program is incredibly easy to use. While it's not much more than just a stopwatch and a timer, it's functional, useful and free!