The chest in those rooms is always either a ring, an artifact, or a wand. It's often the better option.

Excellent news! Thanks for the response! May the dice gods bless your rolls!

I don't want to know where it is, just if it exists and if it's missable in a particular act:

Is there a cowboy hat in this game, and can I miss it by progressing too far?

No additional details please! Thanks!