Regular Top Hats
Regular Top Hats can be found in Costume Chests which include the Red, Orange, Yellow, Green, Blue, Purple and White Top Hat. All of them are black with a colored stripe and a particle effect which is displayed above the Hat while wearing it.
Rainbow Top Hat
The Rainbow Top Hat can be obtained by trading in all the regular Top Hats for a Rainbow Top Hat through the Mage Crafter in either the Spawn Harbour or Bryn's Castle. It's similar to the regular Top Hats but different in two ways. The stripe is animated and changes through the colors of the combined Hats and the particles above it are flame particles.
Top Hat and Monocle
Golden Top Hat
The Golden Top Hat can only be obtained by purchasing the Turbo Rank. It is an animated golden Top Hat with an enchanted glow. The Hat has the same stripe animation as the Rainbow Top Hat but a different particle animation. While wearing it Hearts are displayed above the Player / Hat.