This hat is knit in the round, top-down, running both a wool strand and a cotton strand. I’ve found that, for hats, running two strands at once makes for thicker action.

Knit/purl the top rim dealio for about 5-8 rows, then knit down for the bulk of the hat before working in the faux band thingy. The faux band down by the brim is just purled sections of 5 stitches each. (This is assuming that you’re knitting a number of stitches that is divisible by 5; I was working with 90, so it worked out. Do the math and you’ll be happy.)

At the brim, bind off roughly 2/3 to 1/2 of the brim (this is over your eyebrows), then knit down some more on the remaining live stitches to create the ear-cover neck sash cape thing. This can be flipped up, as noted in a few images.

For the top of the hat (pictured in red in this version), pick up stitches on the inside of the top, letting the top rim dealio hang free. You can pick up every stitch or every-other one; it’s up to you. Work on double-pointed needles, the bastards that they are, adding decreases either methodically or at random intervals to close up the top.