It's a beanie...
It's kind of hard to screw up a beanie, Patagonia did a pretty good job here.
Pros: Nice soft liner, warm and good construction.
Cons: For the UL'ers it is heavier than my arcteryx but they seem to both keep my head warm.
When it comes down to it I think with beanies it is what you want your head to look like. My wife wanted mine to look like a fish I guess.