As a small humanoid, it's tough to keep warm, and this hat will fix that challenge. However, unlike the creature it's based on, you won't get your stealth bonuses - people will definitely notice you and compliment you on your goblin hat. A bonus, though, is that the hat is so cute (and you'll look so totes adorbs in it) that you won't suffer the usual goblin-based penalties to your charisma!
I actually feel like a Goblin when I put on this hat. If that doesn't warrant a five star review, I don't know what does. But you can also add that it feels very comfortable and that everyone that has seen me wearing it wants one now. I love this hat!
I was fortunate enough to get a personalized Goblin Hat at Paizocon 2012, and I wore it around the convention and brought it home wherein my lovely wife thanked me for bringing "her" hat home for her.
It comes out every time it gets cold out here on the east coast and people always stop her and tell her how cute/fun/cool/different (in a good way) the hat is.
They're just awesome