With the multitude of hats available in Team Fortress 2, odds are you've wanted to try on a different one here and there but didn't want to shell out the money for it. Well, Valve has got a solution to this mind-bending problem with their newest Steam service, Steam Trading. Currently in beta stage, this service allows you to "securely" trade your in-game items for other in-game items in participating games. You can even trade Steam Gifts!
Just go to Steam > Settings and click Steam Trading Beta to give it a whirl. From here, you can also group chat with friends and trade among yourselves. For further details, check out the Steam Trading FAQ.
[Team Fortress 2 blog]