Here is a fun and festive crown, in two weights and variations, inspired by paper crowns traditional in British holiday celebrations. The Tern version glows with the silk and features a lace edging; the Osprey version is knitted on the bias, with its points formed by working a saw tooth edging.

finished measurements
14 (16, 18, 20, 22)“ / 35.5 (40.5, 45.5, 51, 56) cm head circumference and 3” / 7.5 cm tall, when folded; to fit infant (toddler, child, small adult, large adult) head

yarn
lacy crown:
tern / buoy 407
1 skein
bias crown:
osprey / honey 123
1 skein

needles
lacy crown: pair or set dpns in size US 1 / 2.25 mm
bias crown: pair in size US 7 / 4.5 mm
spare circular in size US 7 / 4.5 mm

gauge
lacy crown: 32 sts and 64 rows = 4” / 10 cm in garter stitch, after blocking
bias crown: 16 sts and 32 rows = 4” / 10 cm in garter stitch, after blocking

skills required
Long-tail cast on, seaming, picking out a waste yarn cast on (links provided); increasing, decreasing.