I think you could've done a bit better with this as a palette experiment. Though it's pretty solid for a monochrome palette, you should try blending various hues, screwing with saturation, and really taking a step into an area that you're not familiar with. Your dragon piece is a good example of a more fruitful experimentation with palettes. But in the end, I guess it's whatever you feel you need to work on.
The piece is pretty nice overall, there are just a couple things that bother me. The smiley face on the side of the hat looks like it's floating between the hat and us; it should be darker overall and some moving of the shadows and highlights on there would do it a lot of good for sticking onto the hat. The other two are that the aa on the top of the hat's bill is ineffective (use maybe 1 more intermediate color and stretch the aa out a bit for a curve of so little intensity) and that you have a horizontal line on the bottom of the hat's bill that could use to be just a few pixels shorter to fix the breaking effect at its end.