Yes, this hat IS awesome. Every adventurer in the Land of Ooo needs a stretchy companion and an awesome hat.
To make the hat I used this tutorial and pattern. It was super easy and worked out pretty well, just note that if you have a large-ish head you might want to increase the pattern size just a smidgen. Or, if you're too lazy for that, win one!
I used white anti-pill fleece and self-lined it so it is VERY warm! I don't think that I would want to wear this around in the heat of summer! I also added velcro to the straps to attach it to the head. Use it to protect your lush locks from the dangers of Adventure!