From "For a Few Dollars More" (aka "Per qualche dollaro in più"). Right before he gave that no good, dope-smokin', misogynistic, sociopathic creep what was coming to him, Colonel Douglas Mortimer knew this music was coming from his dead sister's pocket watch, which was stolen by El Indio after her suicide while being raped. The Colonel had given the talisman to his dearly departed sister as a wedding present, a slightly larger watch than his which played the identical tone. And no, contrary to popular myth (although the music box motif is also used in that piece), this tone is not called "Sixty Seconds to What?" That is, however, always a good thing to be thinking about.