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1.
The term "I lost my hat" is used as a general response, when a person is astounded or baffled at something, be it a person's idiocy or unwarranted self-praise. The term can also be used as a response to another person's completely lackluster news.
Idiot: "How do you spell red?"
You: "You're so stupid that I just lost my hat."

Freak: "My cat can stand on its hind legs for a whole FOUR SECONDS."
You: "I just lost so much of my hat that I had to go find it in China and take a plane back here."
by DocNein May 02, 2010
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