I had a Paddington Bear when I was a kid, and his hat was yellow. I see the pictures here, and the balloon at the Macy's parade, and see a red hat.
Didn't the books have him wearing a yellow hat?
http://booklocker.com/books/7449.html
IIRC, Paddington's hat was red in the books, however he wore a black hat in the 1975 TV series.
The soft toys could vary a lot, though, and some even have him in a red coat.
On the official site you can see a picture of Michael Bond with Paddington, who's wearing a yellow hat.
http://www.paddington.com/gb/home/
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Done a bit more digging on this: David McKee drew Paddington with a yellow hat, as did occasionally Barry Macey. Some of the early drawings had a black or dark blue hat, but he's normally portrayed with a red one.
Some of the changing styles of Paddington can be seen here:
http://www.alivenotdead.com/stephy427/Peruvian-Migration-X-Station-Ado ption-A-Bear-Called-Paddington-profile-2873027.html
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Only in America
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