Runescape party hats, often referred to as Runescape phats, were introduced into the game in Christmas of 2001. These Runescape party hats were not actually dropped in Runescape themselves rather they were introduced through the form of Runescape party crackers. These party crackers were dropped in Runescape for free and players were able to pick them up and then use them on other players. Then just like with normal party crackers inside there was an item accompanied by a party hat. One player would get the item, which was random, while the other player would get the party hat. Now at the time obtaining the item that the party cracker contained was normally far more valuable but within a matter of weeks these Runescape party hats became exceedingly valuable as people realized that there was obviously a limited number of them available. So with the dropping of these party crackers and party hats a new market was created, the Runescape rare items market. People began collecting these party hats attempting to collect Runescape party hat sets which are basically where a player had all the different colors of party hats, which includes, blue, white, green, yellow, red and pink (purple). These Runescape party hat sets are now worth well over a billion Runescape gold which and there is a very vibrant market for these items.