Sperry Top-Sider STS35 Hat Cat Blue White Adjustable

Sperry Top-Sider STS35 Hat Cat Blue White Adjustable This cap has a string/cord with a clip on it which is attached and cannot be removed! I have no idea what this if for. If you do, please comment so I’ll know. This is driving me nuts not knowing. Unisex Cap is in very good condition. It can use a minor cleaning on the sweat band part of the cap. Also, I believe the dots/circles are reflective. (See 2nd photo) There is one pin hole on the inside of the cap. See last photo. BHAIR02030424HB