Cirque du Soleilloves nice hats for its characters, ranging from bowlers to crowns to baseball caps to miscellaneous eccentric headpieces. The following specific examples are hats that also have special powers.
The blue top hat in Le Cirque Réinventé and its partial remake Fascination turns an "Ordinary Person" into a whimsical ringmaster; at the show's end he's changed back by removing it.
When The Everyman hero of the IMAX short Cirque Du Soleil Journey Of Man loses his familiar black bowler as a young man, a Satan analogue gives him a golden one that winds up granting him a fortune, knowledge, and power...but not true happiness, as he becomes an isolated middle-aged man. Once he realizes what he's lost and decides to reconnect with other people, he tosses it away for his old hat, found by a Vagabond Girl... and it has its own magic, turning him into a loving, lively old man.
In the final episode of the made-for-TV Widget SeriesSolstrom, the top hat worn by the doorman of the Coolest Club Ever controls his robot bouncers so long as he has it on. If someone else puts it on, the robots will obey them.