Yes. "That hat's
in (style) and that hat's [i]out[/u] (of style)". The heading "In & Out" is fairly popular in fashion magazines. It heads articles that describe what's in (fashion) and what's out (of fashion).
A note on Japanese adjectival -
i.
I get it, Itasan.
Even adjectives that take the non-Japanese adjectival particle, > Chinese
na; i.e., kirei na, okii na, also end in -i. The new word "nau-i" is an analogical development. That is, add -
i to make a word an adjectives, even add it to foreign words; i.e., "now" (adverb) => "now-i" ~ "nau-i" (adjective), meaning
it's in (fashion) right now.