I had three partial skeins of Malabrigo (or similar handspun) yarns just begging to be hats- but none of the skeins were quite enough to knit a full hat.
I alternated the 3 colors every 2 rounds to keep the yarns from pooling or varying in thickness too much between stripes. The yarns all appear to be merino, and the hat is quite soft (though not very stretchy, but it wasn’t meant to be).