Handgunner's Guide by Chic Gaylord pages 143, 144 and 145.
"For this trick you hold the hat out, rim downward, at about shoulder height. You drop the hat, sweep your hand down, draw your gun and try to catch the parachuting hat on the end of your gun barrel. Don't be surprised if you can't do it the first few times, because even though it seems to fall very slowly, it actually takes slightly less than a second before it hits the ground. When you can whip your gun out and catch the hat at waist height, you are drawing at less than a half of a second. This shows you are well on your way to becoming as fast as you thought you were."

Chic Gaylord one of the greats! Here's a little tribute of mine to the man.
Hope ya'll enjoy.

Mike Hutyra

http://youtu.be/v1Z7ble_9J0