How to Get a Hat out of a Rabbit
It’s much less disgusting than it sounds, I promise, because you don’t need to use the whole rabbit. No bunnies were harmed to make this hat, only defluffified a little bit.

Step 1: Obtain a skein of Fleece Artist Peter Rabbit, 90% angora and 10% nylon.

Step 2: Knit a hat. Oh, crap, I guess this isn’t as amazing a magic trick as I thought it was, apart from the fact that using sticks to turn string into clothing is always kind of magical.

The pattern is called Angora Beret, although it’s not really a beret, more of a Roundish Thing That Goes on Your Head. There’s a pattern on Ravelry called Angora Beret that uses Peter Rabbit, but this is not that. It’s quite similar, though.
I’m fairly certain I have enough yarn left over that I could knit a whole other hat with the rest of the skein. If getting one hat out of a rabbit isn’t a good enough magic trick, then what about getting two hats?