When the colors on the hat are inverted, they become pink and yellow, like the colors of the Party Hat.
Oddly, on the server "Sleet", this party hat is seen a lot more than the 2nd Anniversary Hat. This is probably because most rarepenguins that go on the server Sleet have both the 1st and 2nd Year Party Hat, but they would rather want to display their rarest hat (i.e. 1st Anniversary Hat).
Like all other Party Hats, this hat will never return.
This is only one of the two party hats that were obtainable before Disney bought Club Penguin, the first being the Party Hat.
It is considered the second rarest item on Club Penguin, as said in the book 'Party Time, All the Time!' However, this is false, as the second rarest item is the Hawaiian Lei.