Celebrating all that is wonderfully awful in the world of Catholic Kitsch.
*Si ponere flavitem potes, pone flavitem*
He is wearing a three crowned tiara. The Phrygian cap that is beneath the crowns (yes our Lord is not a conehead -that is a spherical hat)is not gold leafed so it is admittedly harder to see. I believe that a three crowned tiara seen on the second person of the Blessed Trinity traditionally represents Christ as Priest, Phrophet and King.
Learn something new every day...thanks :)It's the open arms that make it look like He's balancing them...