This pointed hat has the following properties. Spellcasting Focus. While holding the hat, you can use it as a Spellcasting Focus for your Wizard spells. Any spell you cast using the hat gains a special Somatic component: you must reach into the hat and “pull” the spell out of it.

Unknown Spell. While holding the hat, you can try to cast a level 1+ spell you don’t know. The spell must be on the Wizard spell list, it must be of a level you can cast, and it can’t have Material components costing more than 1,000 GP. Once you decide on the spell, you must expend a spell slot of the spell’s level. Then, to determine whether you cast the spell, make an Intelligence (Arcana) check (DC 10 plus the spell’s level). On a successful check, you cast the spell using its normal casting time, and you can’t use this property again until you finish a Short or Long Rest. On a failed check, you fail to cast the spell and a random effect occurs instead, determined by rolling on the following table. Any spell you cast from the hat uses your spell save DC and spell attack bonus.