Possible Clues:

• Maybe put on a cap - it's a hanging matter
• Tuft on e.g. cap
• Drapery elaborations
• Hangs down, though no not much at the turn
• Tarboosh topper
• Let it back to hang around the silly one
• It hangs down, but not so much as the way up.
• Sounding like a 23 across, it's not so much so at the turn
• Mortarboard component
• Set of threads?