This project used less than 100 grams of yarn and is amazingly versatile.

I particularly like the way it can fold itself into pleats. You can wear it so it looks like a fairly normal hat at the front but with scrumptious pleats hanging down the back.

Remove the pin that holds the pleats and it turns back into a cowl or snood. You can fold it to be a headband. With the clever use of an elastic band you can turn it into two different styles of hat.