The symbolism of the black top hat has evolved through the centuries. During the height of its American popularity at the start of the 19th century, the hat was a status symbol worn by affluent men and politicians. President Abraham Lincoln helped make the hat popular.
Party Favor
For holidays like New Year's Eve, people wear plastic top hats to get in a festive mood. Wearing a fancy hat during these celebrations is in keeping with the saying, "Put your party hat on," which means, "Get ready to have a good time."
Fashion
Top hats were also popular during in the decades leading up to World War II since they were considered the height of fashion at the time. Men also wear them to such events as the Royal Ascot racing event at Ascot Racecourse in Berkshire, England, since smart dressing is encouraged.
Novelty
Men and women may wear top hats for a novel effect or to deliberately stand out from the crowd since the hat isn't often worn in popular culture. People involved in the gothic scene might wear one to top off an outfit that has a cape.