No, this puzzle isn't a duplicate of any of the well-known hat puzzles we all know. Yes, it does have a valid solution. This puzzle was originally composed by Jack Lance and posted to a friend group with different names.
Deusovi, Rubio, and Boboquack are standing in a circle. From a bag of 2 red hats and 3 green hats, I put 1 hat on each person's head. They can each see each other's hats, but not their own. They also all know all this information.
The person on the left says, "I don't know what color hat I'm wearing".
The person in the center says, "I don't know what color hat I'm wearing".
The person on the right says, "I don't know what color hat I'm wearing".
The person on the left says (again), "I don't know what color hat I'm wearing".
Where is Deusovi standing, and what color hat is he wearing?