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Gets $500k Belt W/ Rolex, Birkin Bag Attached

Jake Paul just got an incredibly expensive early Christmas gift -- a $500k championship belt decked out with a Rolex, Cartier watch and a Birkin bag attached to it!!!

The Problem Child showed off the "Most Valuable Boxer" belt at his presser with Tyron Woodley on Thursday -- saying it's a one-of-a-kind and designed by artist Alec Monopoly.

It came out lookin' like money -- literally -- the thing has two wildly valuable watches sewn into the strap of the belt on one side.