1.) Funnier than the Funniest Joke on Earth featured in Monty Python - when one reads 'tit hat', one will say 'tit hat' in one's head and die of laughter.
2.) Literally meaning 'tit hat'. A hat with tits on it/made to look like tits.
3.) 'Tit hat' can also be an insult or a compliment, depending on the situation. Most likely an insult.
1.) Two people IMing each other -
Person 1: TIT HAT.
Person 2: LOLOLOLOLOLOOOOL.
2.) Grab my tit hat.
3.) Wow, stop being such a tit hat, you tit hat.
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