I think it's Blue, here's my reasoning:
First start with Alice, since she doesn't know what she's wearing, there has to be at least two distinct choices out of the hats she can choose. Since three people have taken hats, there are three left to choose from. Possiblities are:
Alice
YYP
BYP
BBY
Now moving on to Betty, since she doesn't know what she's wearing, not only does there have to be at least two distinct choices, but no matter what color hat she chooses, the remaining three unchosen hats have to match the above condition for Alice. These leave:
Betty
BBYP
YYBP
BBYY
To clarify, for the BBYP possibility, if she has a blue hat, then the remaining hats are BYP, similarly if she chooses a yellow or pink hat, the remaining hats are BBP and BBY respectively.
Now moving on to Cindy, again since she doesn't know what she's wearing, not only does there have to be at least two distinct choices, but no matter what color hat she chooses, the remaining four unchosen hats have to match the above condition for Betty (which in turn will match the condition for Alice). All that is left is:
BBYYP
If blue is taken, BYYP is left, if yellow is taken, BBYP is left, if pink is taken, BBYY is left.
Finally, the only remaining hat is blue, which belongs to Debbie.