The stitch pattern in this hat expands on the corrugated rib stitch popularly used in waistbands and wristbands of Fair Isle type sweaters. You knit one color and purl the second color so it does not curl, although it is not stretchy like most ribbing. This would be a good time to learn two handed stranding - I usually do the knit stitches Continental (pick) and the purls English (throw.) There are also a few basic cable rows.