A fedora is a rare drop from the Crazy archaeologist. It resembles the hat he wears. It is purely cosmetic and has no bonuses.
An update on the 30th of October, 2014 made it possible for players to right click the fedora when worn to perform an emote where the players tips their fedora.
Monster Combat level Quantity Rarity Crazy archaeologist 204 1 Rare (1/128)
Wilderness bosses and rewards