The Hat was a christmas present given to Liam by his parents in 1999.
Liam wore it to Marcus' house one day, where it was left there for at least a year. One day, Marcus came outside wearing the hat. Liam claimed it was his hat and they had a huge fight about it. Marcus asked for proof, and Liam said that a picture was taken of Adam and him in the kitchen and he was wearing the hat.
In 2001, the boys had a study buddies session at Marcus' House, which they filmed. 30 minutes into the video, Liam can clearly be seen wearing the hat after the video was stopped. Adam took the hat from him and threw it out the window, saying "Whoever gets it, it's their hat forever." Everyone forgot about this but Liam, who said he was going to the bathroom, and went outside and grabbed it. When Adam and Liam were going home, Adam suddenly remembered that the hat was outside, and says "I'm gettin' the hat sucker, HAHAHAH" and ran around the backyard to get it. This is when Liam took off running. Adam noticed and said "You son of a gun, DID YOU GET IT?" And started chasing after him.
The hat has traded places many times since then, and is currently in the posession of Adam.