This is the Cutter Hat location. The Cutter Hat can be found on a rancher NPC at this small farm. There are 3 stolen hats you can get here. The Rodeo hat, Cattleman hat and Cutter hat. Only one NPC spawns at a time and they each have a unique hat you can steal. You will have to come back multiple times to get all three hats.

Stolen hats are unique hats that can only be found on NPC's in the world. They are permanently stored in your wardrobe when you pick them up.