Here it goes, my first tutorial. I hope it makes sense, let me know if you have any questions or suggestions. I am sure there are better ways to to do this, but I kind of made it up as I went so there you go. Sorry, Anna (giveaway winner), you got my first trial so yours in not really reversible, and is a little small. I got at least a little better. Here we go!
1. Cut out four circles of fabric and two circles of interfacing. All should be the same size. You can vary the color and prints for the fabric. Here I have a strip and animal print that i will use for one side and two polka dot circles that will be the reverse side of the hat.
2. Fuse the interfacing to one set of circles (should be both circles of one side. . .for me, I fused to the polka dots). You can interface all four circles but I have some thick stuff right now and my first hat turned out rather thick (sorry, again, Anna).
3. Pin, then sew one circle from each side to one circle from the reverse side (right sides together). For me, this meant I attached a polka dot to the stripey circle and the other polka dot was sewn to the animal print. Leave a 2 inch space to turn the circles back. Back stitch on each side of your 2 inch gaps.
4.Trim close to your seam with pinking shears (if you have them) and then turn your circles right sides out through the gap you left.
You don't need to worry about stitching the gap closed just yet.
5. Turn your circles so the 'front side' is facing up (for me that is the stripes and animal) and overlap one circle onto the other by about 1/3. Make sure that the 2 inch gap you left is part of 
the overlapping sections.
6. Sew the curved section you pinned, then flip over and sew the other flap (overlap from reverse side) down. You don't really need to pin this down since it is already in place. Just don't let your fabric slip. . .like I did. . .then you get to unpick. Weee!
When you sew the circles together you will close the gap you turned them right-side-out through. Just make sure that the seams are tucked (or pressed) in.
The photo on the left is what your seam should look like if you also let your two-year-old control the foot pedal while you sew.
7. Fold the hat to make the "hat shape". For me, that means folding (kind of rolling) the polka-dots to the inside. Make sure the bottom scallops are even, then pin or glue (I glue) in place.
8. If you didn't glue the flap before sewing you will have to glue the top now. It is darn near impossible to sew all the way up to the tippy top, so just go as far as you can, rolling and scrunching the hat as you go and then take the easy way out. . .glue the last two inches.
9. Repeat the sewing and gluing of the flap on the other side.
10. Make the tassel. Cut a strip of wool felt about 5 inches wide and 6-8 inches long. The wider the piece, the longer the tassels. . .the finished tassel will be half as long as the width of the piece you cut.
I hope that makes sense. Keep reading.
11. Fold the felt and cut strips most (but not all) of the way down, like in the picture.
12. Unfold the felt and roll it so the strips are on the top and bottom of the tassel and it is all connected in the middle.
13. Sew or glue it shut.
14. Stick the tassel into the hole at the top of the hat and blind stitch or glue (or both if you are paranoid like me) it into place. Make sure that the tassel is centered in the top so that it is nice looking from each side.
15. You are done! You can reverse your hat and have a tassel on each side. And you can adjust the hat for a smaller noggin by folding up the 'cuffs' at the bottom edge like this sidewise picture shows.
Now make a bunting and napkins and give it as a 'birthday' gift to family and friends.
Sorry the pics are not so good. I did get a new camera for Christmas that is supposed to take fabulous indoor pictures. . .as soon as it is opened.
