CO 126 - with two colours. See picture for detail.
--> Twisted rib for 1½ cm.

Knit stockinette stitch in stripes with 2 rows per colour until hat measures 14 cm.

• k19, k2tog
• k

Repeat 4 times

• now make decreases on all rows until 6 sts left. Pull yarn through all sts and sew in ends.

Makew ruffle/pleat/whatever and sew it on.

I casted on about 40-50 sts and purled one row before making increases to the double by kfb in all sts. Knit pleats by knitting garterstitch with alternating k1 and p1 with 3 or more gartersts between. Remember to make shortrows.

You could also make a mini-Nessie to sew on the hat.

Or knit some ruffles líke on the Nessie-mitts and sew it on.

Or make really large ruffles in st. stitch and se on.