This is a twisted hat design using eyelets made with the Skeinz Terabyte - Rainbow colorway, this could work with any DK/8ply yarn, especially a striped or gradient yarn.

Yarn – Skeinz DK – Terabyte (Rainbow)
or any DK/8ply yarn (All sizes use less than 100gm)
Needle: 4mm circular 30cm for small sizes, 40cm for larger sizes as comfortable.
DPNs or cable size to magic loop crown decreases
1 stitch marker
Darning needle
Balloon for blocking

Skills required

Level: Beginner/Intermediate
K-Knit
P-Purl
YO – Yarn Over
K2TOG – Knit two stitches together
SM – Stitch Marker
SOR - Start of Round

Feel free to offer any feedback you have