The fur of Colorful Llama is very unique, which makes this hat especially popular.
The Colorful Hat can be obtained by donating 20 items to the Museum and then collecting it as a donation reward. It can also be obtained by being the #1 ranked workshop at the end of the year.
The Colorful Hat can be equipped to raise the player's Max HP by 250 and Resilience by 30%.
Data taken from game assets, game version 7.0100427. Listed values are without The Giver skill, which gives an extra 1-2 points.
All other characters will default to Neutral (+1).