Lol, it's a father Christmas hat, don't you guys have them in the states ?
Give it ten years and the beard will be white enough for a seasonal job in a grotto.
Always used to wear one when I delivered Christmas systems.
They usually come from the pound shop.
This one must have cost a bit more as it's really thick and soft

Just one of the things that came to light during my workshop clean out.
Which is also why I know where all my old pyro gear is

(for the hippo challenge)