Formats which you can use under Universal day item:

%a Abbreviated weekday name
%A Full weekday name
%b Abbreviated month name
%B Full month name
%c Date and time representation appropriate for locale
%d Day of month as decimal number (01 – 31)
%H Hour in 24-hour format (00 – 23)
%I Hour in 12-hour format (01 – 12)
%j Day of year as decimal number (001 – 366)
%m Month as decimal number (01 – 12)
%M Minute as decimal number (00 – 59)
%p Current locale's A.M./P.M. indicator for 12-hour clock
%S Second as decimal number (00 – 59)
%U Week of year as decimal number, with Sunday as first day of week (00 – 53)
%w Weekday as decimal number (0 – 6; Sunday is 0)
%W Week of year as decimal number, with Monday as first day of week (00 – 53)
%x Date representation for current locale
%X Time representation for current locale
%y Year without century, as decimal number (00 – 99)
%Y Year with century, as decimal number

You can use as many as you like at once, you can seperate them with comas, dots and whatever.

Examples:

%H:%M:%S     Will display as 12:36:55
%B, %A %d    Will display as May, Wednesday 12

and so on, keep in mind your monitor width...