The most common and most likely answer to this crossword clue is the 9 plus 5 letter word DANDELION CLOCK
I've seen this crossword clue in The Daily Telegraph
D
A
N
D
E
L
I
O
N
C
L
O
C
K
Buddy explains!
The straight part
We know that "Childish timepiece? Blow me!" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case childish timepiece? blow me! = dandelion clock.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.