Guy on left is telling the others, "I'm holding this horseshoe for good luck, so we don't get our butts kicked for wearing these outfits in public"
Now I've got Roger Miller's "King of the Road" stuck in my head.
Other than, maybe, the stripes on the pants, that's really not a bad look.
You are a bold and courageous person, afraid of nothing. High on a hill top near your home, there stands a dilapidated old mansion. Some say the place is haunted, but you don't believe in such myths. One dark and stormy night, a light appears in the topmost window in the tower of the old house. You decide to investigate... and you never return...