The difficulty with making a 12 hour clock is that Minecraft has a 20 minute day, so to divide each day/night cycle into 24 hours would require each Minecraft 'hour' to be 50 seconds; however, with the inclusion of the turntable timer that clocks accuratly at 0.5/1/2/5... etc seconds, we can build an accurate Minecraft clock with just a little extra timing work.
Basically, I took a turntable, used it to time a 10-space piston driven block band, which I then used to time a 24-block piston-band which outputs to a 12-hour clock face. With the turntable set to 5 seconds, this expands the time required to pass a full cycle to 1200 seconds, or a full 24 Minecraft "hours".
All told, it wasn't overly difficult to build and doesn't require so many resources that it would be implausible to execute in a legit world.
(I just realized the following pictures might be a little big, so here's an album you can look at with smaller pictures.)
Clock Face:
Spoiler
Show
Spoiler
Show
Spoiler
Show
Spoiler
Show
Spoiler
Show