What you know about rocking a wolf on your noggin?
This primarily refers to his hairstyle known as a “wolf cut” (Yelawolf also rocks the wolf on the noggin)
On a side note, French Montana actually rocked a bear on his noggin on the Freshmen 2012 cover:
It is also referencing Wolf Pelts/hats that he would buy from the thrift shop, and even wear in the music video:
Macklemore also wears a wolf on his head in the “Can’t Hold Us” music video
To help improve the meaning of these lyrics, visit “Thrift Shop” by Macklemore and Ryan Lewis (Ft. Macklemore & Wanz) Lyrics and leave a comment on the lyrics box