Short for 'partyhat' a symbol of wealth in the massively multiplayer online roleplaying game 'RuneScape'. They were 'dropped' in game on Christmas 2001 inside of Christmas Crackers, which you use with another player to obtain the hat. Today, they are worth millions in RuneScape currency and require months of playing to obtain. People pay upwards of 500 U.S. dollars on Ebay for certain hats, as they come in different colors(Blue, White, Red, Green, Yellow, Purple).
OMG that dude is so leet he has a p-hat!
I'll never make enough money to get that blue p-hat..
A small town where a slut named Katy bragg lives and needs 2 realize the only reason logan is with her is 4 a piece of ass. She smells like old fish that has been in the river 4 yearsm she doeznt even no how 2 take care of her kid!!!!!!!
Katy takes up the whole town of washburn maine shes that fat.