Option 1 states that Humayun invented Taj-i-izzat. The Taj-i-izzat was not invented by Humayun. It is a mistake.
Option 2 states that the Taj-i-izzat was a headgear consisting of a cap and a wrapping cloth. This statement is correct. The Taj-i-izzat was indeed a headgear that consisted of a cap and a wrapping cloth.
Since option 1 is incorrect and option 2 is correct, the correct answer is option 3 - Both 1 and 2.
In conclusion, Humayun did not invent the Taj-i-izzat, but the Taj-i-izzat was indeed a headgear composed of a cap and a wrapping cloth.