Just the body and legs it seems.
The hat i'm not sure, since I've only seen the body and legs at the moment... which both make sound separately, as for the hat, if put on it doesn't make a sound and in-game I don't believe it does either.
An update, apparently the bells on the legs don't jingle when the Survivor is picked up, apparently only the body does this...
As for playing with the item as a Survivor, I don't know. But from what I can tell, it only seems to work for the legs and body when you're the Survivor and the Killer only hears it when picking up a Survivor with the body.
Thank you for testing it for me, it sucks cause I just want to use my shards for the hat, but I guess I might settle for the torso.
Right, well no problem.
I'm unsure about the hat, but you can gamble on it if you like the look I suppose. Otherwise, I think you'll do fine with the body.
I'm assuming the "jingle" is only audible to the survivor(s)?
No, it's audible to Killers as well, it seems that only the body produces the noise when you pick them up. (But that's not fully confirmed if it's just the body that does this for Killers).
For Survivors, if you just crouch rapidly or move side to side than you'll hear it when you run.
To add to the above, I discovered yesterday while doing my killer challenges that the jingle is also audible while carrying a survivor.