The other Derby hat is associated with The Kentucky Derby, which takes place annually on the first Saturday in May, at Churchill Downs in Louisville, Kentucky. Since the first Kentucky Derby Race was run in 1875 and won by Aristides, it has become a tradition for women attending the event to wear special hats to mark the occasion. Hats of all sizes, colors and designs can be seen on the day, ranging from the sublime to the ridiculous. However, it is all in fun, and creativity is the main theme.

You guessed right. It is a tradition that is decades old, and shows no signs of going out of style. It sprung out from the Flappers fad of the 20s.

"Hats of various shape, size and functionality have been worn throughout history by both men and women. At one time it was considered proper etiquette to wear a hat outside the house and to go without one would practically reduce your social standing to that of a common beggar. In fact, it wasn't out of the ordinary for women to change their hats several times a day, depending on where they were going and whom they were going to be seen by.

More to the point, however, hats have played an important role in the history of horse racing for centuries, dating as far back as the world famous Royal Ascot in the United Kingdom, where it is decreed that 'all guests within the Royal Enclosure adhere to a strict dress code: male attendees must wear full morning dress including a top hat, whilst ladies must not show bare midriffs or shoulders and must wear hats'.

It didn't take long for the royal dress code to catch on at the major racetracks in the United States. Albeit a less severe dress code than the Royal Ascot, Churchill Downs patrons taking in the Kentucky Derby in particular have been enjoying this respected tradition since 1875."

Besides being proper etiquette and being inline with proper attire, wearing a hat to a race track is supposed to bring the wearer good luck. The bigger the hat, the more money! (I suppose).