Real Panama hats are made from Toquilla straw. This unique material lets the Panama hat maintain its shape even after being folded and cramped over, inside your luggage; this is what makes them perfect for safaris and all sorts of expeditions.
It is a usual thing to be puzzled by the distinction between Fedoras and Panama hats. In fact, in regards to the shape and dimensions, there is not much to be said of the difference between these two kinds of hats but the material from which they are made of. As mentioned above, Panamas are made from Toquilla straw and Fedoras are usually made out of Felt.
In case of our great trickster here, he would have had a more difficult time chewing on that hat if it was a Fedora, or even a Campaign hat for that matter.