This hat uses a slip stitch technique which gives the effect of a two colour pattern while using only one colour per round. The knitted edge curls naturally, the textured stripes can be worked right up to the top and the decreasing is minimal. So in short order you have a colourful hat knit in the round. You can use this pattern to experiment with many colour combinations. You could knit the hat with the ‘top and tail’ in the Main Colour and the Background of the pattern in a different colour (as in the photo) with 1 or 2 Contrast Colours for the Slip Stitch Pattern OR the background could change along with each change in contrast colour OR the background could change with the slip stitch pattern all in the same colour OR . . .