Welcome to Worldscape.
All you do is have to type in ::specialphat (witch is NOT wildy). You can also type ::phat (witch is WILDY and you can lose items there,) and pickup the Christmas Cracker and use them on someone, either you are the person you use the X-mas cracker on will receive the partyhat. Thought partyhats are only worth around 1-3 coins. You can make money by training magic to level 55 and buy mithril seeds witch you can get from Fred the Farmer in ::lumby and costs 3,000 coins (3k) then High lvl Alchemy them to make money, Or raise your Combat level to level 100 then train at ::northpole killing: Otherworldy beings that are lvl 65 and sell the items they drop witch sometimes sell for quite a bit.
I hope this helps.