I couldn't find any stuffed animals or hats, but I found these two websites which have Elmo charts on them. Maybe you can incorporate these patterns into a sweater, scarf, or washcloth.
http://www.breienmetplezier.nl/Breip...esamstraat.htm
http://www.knitting-and.com/knitting...harts/elmo.htm
Also, if you're looking to purchase a nice soft stuffed Elmo, I know that the Gund toy company makes some good Sesame Street dolls which are soft and floppy--some don't even have plastic eyes but plush ones instead!
Good luck!
Rebecca