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The purple cowboy hat and bag hat from the event add 15% more EXP.

BUT! Only if you kill the monster yourself. Physically/Magic by the player.

Notice that when you use a mercenary, the 15% exp does not apply.

I have tested it out and for sure, it does not apply with mercenary.

Though I don't know about homo, did not try on them.

I suggest changing it so merc kill count apply the 15% exp as well.
For some of us, like my priest, I mainly use a merc. Therefore I don't get the exp bonus even if I wear the hat.