In one of the secret chests in The Great Hall, there is an item with the name "royal snug?" (with a question mark). It's the same as the regular "royal snug", but it's gray and has worse stats.

What's the point of it?

1 Answer

This is fairly late in the game: If you talk to Fleur at the base of the Spelltower (near the "East Schoolyard" Traveller Oak), she'll upgrade the Royal Snug? to a very powerful hat called the Winterlast.