I actually like that a lot. I think you'd have to try to make the strokes a bit thicker or accentuate the shape of the letters a little more, something to make the F and C view a little better at small scales. but I "see" the hat and i "see" the f and c. I think thats a pretty close to what a best effort to create a hat out of something else is going to give us.
I bet.. you could probably mock up similar hats with F F for foundation F E for extras and even F L if you tried real hard.
if it is any use for you, the source is in the same place: http://fedora.nicubunu.ro/fc.svg
The question remains... is an abstract "hat" out of lettering acceptible or not?
-- nicu Open Clip Art Library: http://www.openclipart.org