The Sailor hat is knit from the bottom-up, starting with a rectangle knit in 1x1 rib, alternating 2 colours to create a striped pattern. Then the rectangle is connected in the round. Once the hat reaches a certain length, you continue to knit in only the dominant colour and begin raglan-style decreasing to form the crown of the hat at four different points.

Materials
3.5mm short circular needles and double pointed needles (or the Magic Loop method instead of double pointed needles)
Darning needle to sew in ends
around 200 meters of yarn IN TOTAL. I would suggest around 150 meters of your main colour A and 50 meters of your secondary colour B.

Note on the Needle Size: Usually when knitting ribbing, you go down half a size or a size to ensure a nice tight rib. However, for this hat, I want a slightly looser brim and so decided to use 3.5mm needles for both the ribbing and the top of the hat which is knit in stockinette stitch.