This vintage hat was made in the 1950s. The milan straw body was made in Italy, and it was finished and sold by Resistol. It has porkpie styling, with a wide grosgrain ribbon, with a back bow. This style was popular for a period in the mid to late 1950s. Despite being marked a 7-1/4, the hat has shrunk and measures and fits as a 7-1/8.
This hat is a mystery. I’ve seen them show up on ebay from time to time. They’re mostly all from this company, and all are from New Jersey. They’re all oddball colors. Masonic? Mummers? I would guess some kind of fraternal organization.