As the Lions resume their misfiring AFL season on Friday night against the Western Bulldogs, Fagan again is drawing on the mighty example of his friend Neale Daniher.
Those souvenir beanies come from the annual Big Freeze event at the MCG, with the 10th to be staged on Monday, as always, before the annual King's Birthday blockbuster between Collingwood and Melbourne.
The Big Freeze is at the centre of Daniher's fundraising to fight the fatal disease MND, or motor neurone disease, which he was diagnosed with 11 years ago.
"Whenever I'm feeling sorry for myself, I just look at that and (think) 'toughen up, keep going' - that's what Neale would want me to do, I know," Fagan said of his beanie collection.
"I get to go see him most times I'm in Melbourne and he means so much to me.
"His cause now means so much to many Australians - just a demonstration of resilience and mental toughness, I reckon, for him to do what he's been able to do."
Fagan famously became a significant casualty of the Big Freeze, where AFL figures and celebrities slide into a pool of ice water to raise awareness about MND research funding.
The Lions coach slipped as he exited the pool six years ago and needed surgery on a torn hamstring.
Chris Fagan hits the freezing water during the 2018 Big Freeze. (Julian Smith/AAP PHOTOS)
But it's his team that has been coping with a rash of injuries this season as the Lions have slumped to 13th after reaching last year's grand final.
Brandon Starcevich will make a welcome return from a calf injury for the Marvel Stadium clash with the Bulldogs, while Eric Hipwood is back from suspension.
Tom Liberatore returns from his latest concussion and Fagan spoke about the significance of the midfielder to the Bulldogs.
"Libba's a very important part of their team, he has been for a long, long time - he's a great ball getter, he adds to their strength in the midfield, which is already strong," Fagan said.
"For as long as Luke Beveridge has been coach of the Bulldogs, they've been brilliantly strong in that part of the ground.
"Our midfielders are going to have to be on their toes - and looking forward to the challenge - but we know that at our best in our midfield, are very very good as well."
While acknowledging his team's struggles, Fagan said on Thursday that the Lions are doing a lot right.
He said goalkicking accuracy had been a significant problem this season and something they must rectify.