The act of turning your homework/workbooks/assignments into paper hats that you can in turn wear, in order to irritate your teacher/boss.
Person - "Man, I was up to my neck in paperwork, so I dropped it all and started making paper hats."

Student: Man, Mr. Johnson is so weak, he gives us an essay during the summer! so spent my days making paper hats."
by SrgMiffy March 17, 2009
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Attempting to make money.

Origin: late 1900's, Texas. The term was oftener used by low level gangsters and was in reference to obtaining enough money to purchase a hat which, at the time was a status symbol. The nicer one's hat, the higher ranking the individual in the gang or crew.
Vinny: What are you doing today?

Joey: Tryin' to make a hat, know what I'm sayin'?
by Bakersaurus November 25, 2014
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