Drop Stitches Like It's Hot Hat

I wanted to create a quick-to-make hat for a present that was trendy and a bit punky. This is what I came up with.

FINISHED MEASUREMENTS: 21" circumference x 7 1/2 " height
YARN: 1 skein Bernat Softee Chunky (Bulky size)
COLOR: Grass
NEEDLES: US 9 circular needle and US 9 double pointed needles
GAUGE: 14 stitches/4 inches in Stockinette stitch. Update needle size to obtain gauge.
NOTIONS: 5 place markers and 1 yarn needle to weave in ends

PATTERN:
- Cast on 72 stitches
- PM at beginning of round
- K2, P2 for 3rounds
- (K6, K2tog, K6, K2tog, YO, PM, K2tog) 4 times
- Knit in stockinette stitch until the hat measures 5 inches from the bottom.
- Knit to 1 stitch before PM and drop the stitch off the needle. (This is the stitch that was the YO.) Repeat for the remainder of the row.
- Start decrease: knit to 2 stitches before each marker and K2tog. Continue until 12 stitches remain.
- Cut yarn to at least 8 inches and weave through remaining stitches.
- Weave in ends.

Enjoy!