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How do I color this?

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I want to color this cowboy/cowgirl hat for my niece's 5th birthday. I originally wanted to redo the trim too but now I'm not so sure about that. I may keep that the same. I'm also wondering if I'd need to add a finish or something to it so that the color doesn't run, get on my niece or anything else, or would go away if it gets wet. Any ideas? I have about a week to do this and would like to go buy the stuff for it tomorrow if possible.