Thanks for your question. The pattern "K2, yfwd, sl1 k1 psso, k5" that you're working on has a decrease stitch in it. So, don't worry. You'll get a decrease result after you're done with.
The "sl 1, k1, psso" or "SKP" (slip 1, knit 1, passover) is a method of decreasing one stitch. The result will be a left slanted decrease. You can see how I did mine in the video below;
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Easy and cute to knit child hat knitting pattern. Make this hat using worsted weight yarn and 5.5mm needle. Choose yarn you like or suggested in the pattern!