By Radar Staff

Sir Paul McCartney was honored as the 2012 MusiCares Person of the Year Friday in Hollywood.

Joined by his bride Nancy Shevell, McCartney was celebrated by the legendary Neil Young, along with Alicia Keys, Nora Jones and Yoko Ono at the annual event that takes place annually on the Friday night prior to the Grammy Awards.

But it was Katy Perry's hat that stole the show!

PHOTOS: MusiCares Person of the Year Honors Sir Paul McCartney

Looking like something you'd wear to the Kentucky Derby -- or maybe a royal wedding -- Katy (and her hat) overshadowed other guests, including Giuliana and Bill Rancic, Hugh Hefner and Sir Richard Branson.

• TAGS

• 2012 Grammy Awards
• 2012 MusiCares Person of the Year Honors Sir Paul McCartney
• Alicia Keys
• Giuliana Rancic
• Hugh Hefner
• Katy Perry
• Music
• Neil Young
• Nora Jones
• Paul McCartney
• photos
• Yoko Ono