it is hard to tell from pictures how big something is ... this wee hat is sized for a 3 month old baby (and made as a photography prop for a friend of mine who takes baby pictures).
I love everything about it1 the colour, the yarn (Fleece Artist Olann -- knits up to a beautiful firm yet soft fabric). I can't recall any of the details, except I think I used 4 mm needles ... if you have the burning need to know when I knit it, check my Ravelry projects (I am lazy!)
I also knit another one just like this, but a bit bigger ... the colour of the unphotographed one (also for my photographer friend was very pretty ... purple, cream and brown striped. The yarn was also Olann, and again - bad blogger - I have no memory for the details. But I do remember that the unphotographed one was made with pom poms, instead of tassels.
My photographer friend loved them, and is building quite a sizable baby hat collection!