If ever to be appraised, and it certainly wouldn’t be, Rickety’s hat would be valued somewhere around that of 10,000 acres of hinterland or an Imperial navy flotilla. For, you see, the hat is woven from two distinct fibers originally spun by the Loom Kings of Hamarung, which are no longer traded in the known world. His violet plume comes from the down feathers of a long extinct, eagle-winged and lion-headed Therafreet, and was dyed in Hyral ichor, which is made from the scales of an obsolete species of singing fish. It is obvious that Rickety Stitch’s flamboyant, musical inclinations are a hint as to why he owns such a ridiculously unfashionable (by today’s standards, anyway) hat, but its overall cultural significance is murky.
All that can really be gleaned is that the hat predates the Dungeon Era by some time, and there is no question as to why it sits atop the skull of a walking skeleton, and not on the head of a living man.