• Weather-Beaten Fishing Hat
• Item Level 10Disenchants into:
  Not disenchantable
• Binds when picked up
  
• Cloth
• Head
• 31 Armor
• +3 Stamina
  +3 Spirit
• Durability 55 / 55
• Equip: Increased Fishing +5
  Use: Attach a lure to your equipped fishing pole, increasing Fishing by 75 for 10 min. (10 minute cooldown)
• 
• Sell Price: 84
• 3 sec cast

Source

Can be found inside from fishing daily quests. This item can be found inside the [Bag of Fishing Treasures] rewarded from completing Marcia Chase's daily fishing quests in Dalaran, and  [Bag of Fishing Treasures] from completing the daily quests for Old Man Barlo.

Patch changes

 Hotfix (2010-03-24): Removed the minimum item level requirement introduced in patch 3.3.3.
Patch 3.2.0 (04-Aug-2009): 30-second equip cooldown removed. 
Patch 2.4.0 (25-Mar-2008): Added. 

External links

• Battle.net (EU)
• Wowhead
• Thottbot
• WoWDB