Cute? How about, um, NO!
For those of you living in caves accessing the internet, this is a pun on Subway's logo, instead advertising Jesus as "the way". Referencing John 14:6 (Jesus answered, "I am the way, the truth and the life. No one comes to the Father except through Me."), it proposes to get people to heaven.
I have three problems here. One, Jesus doesn't need to be, nor should He be, advertised. Two, the verse that the hat references is Law, not Gospel.
The main problem I have, however, is the idea of being "cute" in regards to Jesus Christ, the Savior of the world. There is nothing cute about it. The cold, hard reality is that we are evil to the core, born sinful and destined for everlasting damnation, yet, in spite of this, God the Father showered boundless mercy upon us by sending His Son, Jesus, to die and take away the sins of the world. That is NOT a cute story.
This is all representative of a larger movement of being cute to "sell" Jesus. Punny church signs, bumper stickers and now hats are popping up everywhere.
E'en so Lord Jesus quickly come!