So, I tried this out simply by tying some necklace cord onto one of the bars from the wrist strap. It actually worked pretty well but I do think it would look a lot nicer using the Moto 360. The rectangular shape of the G Watch just didn't look very good to me as a necklace. In terms of usability, there is one very large issue, in that it requires at least one hand now to operate. To lift it up to your face you need a hand. It will wake as long as it was hanging upside down. Then due to the length of the necklace, it's more comfortable to use your other hand to interact with taps than the one holding the device. It's not bad at all, just not quite as convenient as having the device on your wrist.
Jgideon, that Kickstarter looks great! I wonder if they would consider making a universal version of the pocket watch adapter, since all the Android Wear devices use the 22mm width standard.
Edit - I took a look at the Kickstarter page. They have the devices upside down if they are trying to make them wearable as necklaces. The device should be readable when lifted up, meaning the cord on the bottom. For the pocket watch style I would imagine that the way they have it pictured would be appropriate, but an update would be needed to reverse the gyro.
