This is a Daiwa knit cap that also functions as a neck warmer. The top can be twisted to be worn as a knit cap. DC-9301W I loved the color and wore it often, but I'm selling it because I have a lot of watch caps. Please note that there may be some pilling. From the product description: Twist-stitched, it becomes a neck warmer when untwisted. When you shake it by holding the bottom of the hat, the twist returns, and it becomes a knit cap. It's small enough to fit in your bag, so it's convenient to have one in addition to your regular cap to prepare for extremely cold weather. Manufacturer's suggested retail price: ¥3,267 (tax included)