The 3rd Year Party Hat is a rare party hat in Club Penguin. It was available for all penguins to collect in the Coffee Shop during the 3rd Anniversary Party on October 24, 2008; and just like all other anniversary party hats it will never return. In order to get it, you had to hit the switch on the Wish-Maker 3000, causing some cake to fall, revealing it.
It was the first anniversary hat to have 3 different colors.
It was the first party hat to have more than two colors, and currently the only tricolor anniversary hat. The 5 Year Celebration Hat also has three colors, but isn't an anniversary hat.
The tricolor is a reference to 3 years of Club Penguin, similar to the 5thparty hat, because it has 5 colors.