Knit Cap of Speed

Stats:
Hit Class: -1
Initiative Class: +15

In Game Description:
While it looks like the sort of thing that your grandmother might put together for you because she really has no idea what else she might get you for your birthday (you really should call more!), in fact your grandmother had nothing to do with its creation.

Somewhere in a distant land, there's an entire army of highly-skilled magical grandmothers who knit these at an alarming speed because they have found a lucrative niche vertical market for their product among adventurers such as yourself.