Is the Pope Getting In To The Holiday Spirit?

Not exactly. The hat is called a "camuaro" and was commonly worn during mediaeval times to keep warm. It's made of red wool or velvet with ermine trim. The camuaro has been part of the papal wardrobe since the 12th Century. Cardinals also wore camuaros (without the trim) until 1464 when it became exclusively a papal lid. The last Pope to be seen in public wearing the camuaro was Pope John XXIII in 1963 until Pope Benedict XVI revived the tradition last year.