This is a hood / smoke-ring / cowl knit in an lace pattern with a edging pattern. It is easily adaptable to other lace stitches.

From the designer’s website:

This snug alpaca hood can be a quick gift, or simply a way to try out a luxury yarn. It took me about two days to knit the first one. It is a seamless 30” tube, knitted upward from an edging of a simple narrow lace scallop pattern, incorporating a few inches of a multicolored mohair blend to highlight the face, and finished with an I-cord border.