This word is from the Spanish phrase pan (de) bonete.

Pambonete: Filipino Bonnet Bread

bonnet-shaped dinner roll

also spelled as pan bonete / panbonete

often shortened in Tagalog as bonete 

not as ubiquitous as the Filipino roll pandesal

softer than pandesal

Pambonete is frequently served hot with butter melting on its top surface.

Pan de bonete is a common bread in Yucatan, Mexico, and the country of Costa Rica, where the story is that the “bonnet” refers to the hat used by priests during the Spanish colonial era. The Filipino bread’s shape though does not look like a priest’s headwear, and instead is more reminiscent of a chef’s toque.

Chef's Toque (Sumbrero ng Kusinero)