What is P-hat?
1.
Short for 'partyhat' a symbol of wealth in the massively multiplayer online roleplaying game 'RuneScape'. They were 'dropped' in game on Christmas 2001 inside of Christmas Crackers, which you use with another player to obtain the hat. Today, they are worth millions in RuneScape currency and require months of playing to obtain. People pay upwards of 500 U.S. dollars on Ebay for certain hats, as they come in different colors(Blue, White, Red, Green, Yellow, Purple).
OMG that dude is so leet he has a p-hat!
I'll never make enough money to get that blue p-hat..
See
2.
a head garment worn by people with learning disablities to keep them warm
"Oh my, look at jason doesnt he look good in his P-Hat"
3.
Variant of "phat," meaning cool.
That concert was P-Hat.
Yeah.
