You can see the compass / clock by crafting it or by looking in the statistics screen

What I expected to happen was:
Probably an empty compass, or one that spins randomly (like in the nether or end)

What actually happened was:
You can abuse being able to see the compass by gathering the materials and seeing the compass in the crafting table, or by crafting it in a creative world, going in to the survival world and going into the statistics menu, and clicking "items"

Steps to reproduce:
1. Gather the materials to make a compass (4 iron, 1 redstone)
2. Craft the compass, but don't actually put it in your inventory
OR
1. Craft the compass in a creative world
2. Go in your survival world
3. Go to Pause menu > Statistics > Items