My internet went down the other day so I decided to make this gimmicky hat out of boredom... There, enjoy...
Also yes it is pretty low poly but there's not much I can do about it. Every frame is a separate model wich uses scrolltexture with transparency to give the illusion it's animating, so it gives me arround 100 tris for the entire hat on every frame. This is a silly proof of concept.

I've made a higher poly version, non animated, CLICK HERE!