The Trophy Belt, which came out as one of the 9 first Hats and as the first Hat who could be worn by Sniper ever in the game, was released in the "Sniper vs. Spy - Blood Feud in the Badlands"-Update. That was back in the Time were TF2 was even Pay to Play.
Differences to the normal HatEdit
It adds a Belt of Trophies, Crocodile Teeth to be precise, to the regular Sniper hat. (For example the Soldier's Stash does nearly the same effect to the Soldier Helmet, just with a Package of Cigarettes and some Poker Cards)