Step 1: Take a letter sized piece of paper and fold in half vertically, namely fold the top half down over the bottom half. The fold should be at the top.
Step 2: Find the center point of your folded sheet by folding the left side over the right side on the center red line, and then unfold.
Step 3: Fold downward both triangles on the red line.
Step 4: Your paper should look like this
Step 5: Fold one layer of the bottom strip upwards on the red line
Step 6: Fold the two small triangles on the left and right to the back so they are not seen.
Step 7: Turn the paper over and fold the other strip up.
Step 8: Turn the hat 90 degrees and open it by placing thumbs inside and fold such the the bottom and top points come together.
Step 9: It should look like this.
Step 10: Fold the lower front triangle (one layer of paper only) up on the red line.
Step 11: Your paper should look like this.
Step 12: Turn your paper over and fold up the other lower triangle. It should look like this.
Step 13: Turn 90 degrees and open the hat again by placing thumbs inside, and fold top point down onto bottom point.
Step 14: Pull the upper corners of the triangles in the direction of the arrows.
Step 15: Keep pulling gently as much as possible, and shape sides of boat with your fingers.
Step 16: Open the boat slightly from underneath so that it will float, and your done!
Many thanks to www.mathematische-basteleien.de/paper_ship.htm for the use of their drawings, which I then slightly altered, for this step by step guide.

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