The hat is a beanie called a Zaphat, and the logo on the front acts as a target for an iOS app that will render a 3D model “mask” over your head. One of the masks that it (presumably) ships with is a werewolf, who reacts accordingly when you poke it in the nose.
The company behind this gimmicky (but cool) technology is Zappar, who “make bite-sized entertainment experiences using our proprietary image recognition”. The Zaphat will hit retail “real soon”, at which point you’ll be able to purchase additional masks based on original and licensed properties.
I don’t spend a lot of time just starting at people through my iPad, but if augmented reality garments go mainstream, I might have to start! (Zappar, if you want this to go mainstream, please use models who don’t look like extras from Jesse Pinkman’s crew).