You can make this with one skein if you omit the ribbons. Though, then add some weight on the flaps (beads or other decorations) for the hat is quite light and can catch wind easily.

Due to the shape of the earflaps, this hat can be worn also “wrong side”, meaning the connecting piece on the top of the head. Then it is more like a bonnet.

There is an adult version of this hat, it’s called Porthan.