Just wanted to add regarding pricing, it depends on how its made and from what materials.
I am a knitter and crocheter and I also make custom bonnets. I am really picky about using high quality yarn as well as the rest of the components (no matter what project I am working on).
Things to consider:
Thickness and type of yarn - many of the really high quality bonnets use 100% mercerized cotton yarn. It’s breathable as well as durable and it washes up really well!
Ear material - I really prefer using lycra for the ears as I feel it breathes better than the solid cotton and it allows for a close fitting yet comfortable stretch. It looks much better than the loose ear look with a too big ear.
How much you want to pay a local artist for their time. Depending on how long it takes to make, alot of the “cheaper” bonnets don’t really pay the artist for their time. I priced mine at $80 (which I feel is actually low…) which accounted for $20 in material costs and 6 hours of work at $10.00/hr (pretty cheap for an artist…) Which isn’t nearly as much as I make at my day job, so I tend to just sell to family and friends… well and feed my addiction for bonnets on my own horse! Gratuitous pic of my boy in a bonnet!
It’s not just bonnets, quite a few crafters battle with what the product will sell for and how much time it takes them to make it.
Hope this helps with understanding pricing.