I used to have a hat-scarf (hooded scarf) like this when I was a kid (showing my age now).
So I made one last Autumn for my daughter Rhiannon to wear to school. The only problem was that I ended up having to make about 8 of them for all her friends in different colours.
I've been searching the web for a pattern like this but the only ones I can find are for those who can use the dreaded double pointed needles! Ooh scary.
So just for those of us who are only really comfortable with two needles and not four I've written out the pattern just for you.
You can get the pattern free here http://www.scribd.com/doc/9684141/Rhiannons-Hat-Scarf