This is a great way to make something useful out of a single skein of cashmere or maybe qiviut, if you live in a cold climate. However, it could just as well be made of a wool or acrylic in dk or light worsted.

I remembered this type of hat from my childhood back in the 1950s and 60s, and found a vintage pattern at http://www.glamarama.net/knitting/patterns/1961hats.pdf which I adapted and modified for this hat. It could also be tied behind your hair as more of a headband.

Copyright does not restrict your right to sell finished articles from this pattern.