Bandanas still work!!
I have been using two bandanas, one for the cold outer air, one for my warm inner breath air and it works perfect. I also wear a balaclava and helmet; no hats nothing. Have been riding in -10 below before with it, or just your usual cold winters and its all around the best head gear you can use. It covers the back of your neck really well, you can tuck it into your thermals and it holds a pretty nice seal, and they're designed to be really breathable. Plus you can stretch it over your mouth so you dont breathe into it, so your mouth and nose are exposed.