What to do with Purple Yarn

I have a some purple yarn with little thingies in it. Tags of different color, if you will. I really like it, it's soft and strange. it fills a lot of criteria for me. But, What to do? I feel it would make an excellent scarf, but i also don't wear scarves nearly as much as hats. I would kind of rather make a hat out it and get some use out of it, but I just can't find a pattern that jumps out at me. I was thinking that maybe I might lean toward something like this Panta at Craftster I really like the idea of some deep ridges to showcase this yarn.