I want to be a newfag again
"Asshat" is slang for idiot or useless jerk. It can be interpreted to mean someone who has their head so far up their ass that they're actually wearing it as a hat, or that from the waist up, their sole purpose in life is to be a hat for their own ass.
Asshats are sometimes sent as a malicious gift to chat spammers, clan looters, and promoters of general jackassery.
This is a hat made from two cheeks. Once you get used to the smell, it's pretty stylish.