Ok. So. The toddler pattern that comes with the yarn? Wicked small. Like, following it to a T, it just fit my 6 week old. So if you’re making it as a newborn gift, and are a tight knitter as I am, then yeah - make the toddler size. My 2 year old and 3.5 year old fit nicely in the adult small pattern size. I actually added 5 or 6 rows to the length of the hat before decreasing. I had plenty of yarn left over to do so.
First hat, the Elephant - I did in the toddler size, started and finished 1.8.14.
Second hat, Unicorn - I did in the adult small size, started and finished 1.9.14.
Third hat, Monkey - I also did in the adult small size, started and finished 1.24.14.