Wizard's Hat

This one is cosmetic and only appears in the Wizard's stock during Halloween, so outside the season you are waiting a year or changing the date on your machine. The plainly named Wizard Hat is the separate item that actually raises magic damage. Mixing them up is a common way to waste a head slot.

The star pattern lines up closely with the Star Cloak, so the two go together if you are assembling a mage costume and want it to look deliberate rather than scavenged.