On wearing: "They are out to get you. This is not real this is not real this is not real."(Summons some inner demons that look like shadow simulacri for each enemy passively. Only 10% of these will be directly targeting you... the rest fights everyone else including you. These do grant experience, but not Items.)
By all accounts, just an ordinary cooking pot with an array of antennae haphazardly soldered onto it. An attached manual contains nothing but fifty pages of deranged gibberish, nonsensical diagrams and lines upon lines of numbers with no apparent pattern or reason to them.
Putting this on your head may not be the best idea.