With A, cast on 48 (56) stitches
Rows 1-11 *K2, p2. Repeat from * to end of row
Row 12 K2, p2tog across - 36 (42) sts
Rows 13-20 Work in St st, beg with a RS row.
Red 'hearts' stripe
Row 21 Change to B, knit
Row 22 *P1 B, p1 A. Repeat from * to end of row.
Row 23 Change to B, knit
Row 24-29 (33) Change to A, work in St st.
Row 30 (34) *P4, p2tog. Repeat from * to end of row - 30 (35) sts
Row 31 (35) and all RS rows Knit
Row 32 (36) *P3, p2tog. Repeat from * to end of row - 24 (28) sts
Row 34 (38) *P2, p2tog. Repeat from * to end of row - 18 (21) sts
Row 36 (40) *P1, p2tog. Repeat from * to end of row - 12 (14) sts
Row 38 (42) P2tog across - 6 (7) sts
Row 40 (44)P0 (1), p2tog across -3 (4) sts Cut yarn, leaving a 16 inch [40 cm] tail. Thread tail through remaining sts, and sew the sides of the hat together. Fasten off securely. Weave in ends.
Cut a strip of cardboard the size you want your pompom to be. With one strand each A and B, wrap yarn around cardboard – the more wraps, the fuller the pompom will be. Cut yarn leading to skein. Slide a doubled strand of yarn under center of wraps and knot. Clip loops; remove cardboard. Fluff pompom and trim ends evenly. Use the ends of the knotted strand to attach pompom to top of hat.