Here's a breakdown:
* Hat: Represents outward appearances, style, and image. Think of a cowboy hat, a symbol of the American West and often associated with strength and independence.
* Cattle: Represents substance, work, and results. A rancher with cattle is someone who can demonstrate their skills and have tangible proof of their success.
The idiom suggests that someone is putting on a show, trying to impress others with their outward image, but lacks the actual skills, knowledge, or experience to back it up.
Examples:
* "That new CEO is all hat and no cattle. He talks a big game, but doesn't seem to know anything about the business."
* "He's always bragging about his investments, but I think he's just all hat and no cattle. He's probably lost more money than he's made."
In short, the idiom is a criticism of someone who is more concerned with appearances than with actual ability.