Master's Wildercloth Fishing Cap

They create an entire system of profession equipment, including supplemental pieces like mining caps, and fishing hats still need to be equipped onto your actual gear slot?

Great tailoring skill-up recipe. The materials are dirt cheap and if you have enchanting, you can disenchant to get about 30% of the cost back. The vendor value isn't horrible either. I have Nat's epic hat, so the item itself is meh and the fishing skill doesn't even change based on item quality, so that's kind of a bummer too. Just use the cheapest mats you can find (note this doesn't necessarily mean the lowest quality right now).

Edit: I was able to use this recipe to get all the way to 100 skill, but the last point took around 20 crafts. At 75g material cost per hat and about 25g worth of materials from disenchanting, I think this was a great way to get to 100. 1000g for the last point is not that much...

And the Weather-Beaten Fishing Hat at +5 fishing skill and an infinite supply of +7 lures has this beat easy.