I think it would make a great pirate captain's hat for dress-ups!
- a wide turned-up brim and pointed crown, to form the boat shape
- simple to knit, using only knit + purl stitches and basic decreases
- knit in the round from the brim up
- written instructions
- five sizes - for babies, kids, and adults
- will not actually float ;)
For the baby/toddler sizes, you will need one 50g ball of Morris Empire 4ply, or two balls for the larger sizes. I decided to use a marled black & white yarn to mimic newsprint (Empire 4ply in 'Beluga Twist'). If substituting yarn, you will need 145-310 yards of smooth, bouncy sock/fingering-weight yarn.
If you'd like to fold some 'proper' paper boats, here are a couple of tutorials which I think are nice and clear:
Origami Boat Instructions