This was my husband's birthday gift this year and he loved it. :) And it actually took me no more than two days to complete!
The knit part of the hat was made with a circle loom, because it's quicker than crocheting or knitting a hat. I did double layer it though to minimize holes. Circle looms make hat making really easy!
I added the rim, made of a lightweight stiff plastic, by covering it with cloth of the right colors from both sides and then sewing that onto the knit part. It has to be sewn really well to keep it in place.
The ears are also sewn on, made of the same fabrics as I used to cover the rim. The strings are twisted yarn (could also be braided), I just tied them on at the top and sewed on fuzzy pompoms at the bottom. Pompoms can be made of yarn too, but here they aren't.
The eyes and nose are flat black beads (the lighter the better for the nose). I painted the eyes with nail polish as well to create the colored part. Voila! Isn't it cute?