Hobbits can get away with a lot more funny, extravagant, colourful and original outfits than elves or man, or even dwarves. At least, that is how I look at it. There are a number of outfits in Lotro that are not appropriate for a man, but look extremely good on a hobbit. One of those items is the “Riddle Master’s Hat”, a light armour quest reward from Bilbo in Rivendell (the same model was repeated in last Spring Festival’s Spring-Flinger Hat in different colours).  I think the same can be said about the Dwarf-make Shirt and Pants, a cosmetic that you can buy from the outfitter in Thorin’s Hall. I would just never use it on an elf.
Shirt-and-Pants, Dresses and Tunic type of cosmetics do not allow for gloves or boots, which is a shame because that means there is less room for accents. This entire outfit consists of only two pieces, yet still looks great because of the colourful design.

Chest: Dwarf-make Shirt and Pants, Evendim blue dye

Head: Riddle Master’s Hat, Evendim blue dye