The week’s most exciting, surprising, and bizarre moments in fashion brought to you in delectable bite-sized portions. Bon appétit!

Homeless-Chic Is a Real Thing
Somewhere, Jacobin Mugatu is stoking his miniature poodle, sipping his non-foamy latte, and screaming at the top of his lungs, “I told you so!” Turns out his hobo-inspired vision for the future of fashion was dead-on target. This week, Antidote magazine unveiled a very Derelicte-looking editorial spread featuring down-on-their-luck, soiled supermodels splayed out on cardboard boxes and covered in trash. Indeed, the whole thing makes us feel like we’re taking crazy pills. (Via Styleite.com)

Muppet to Have “Make It Work” Moment
Miss Piggy has been tapped to guest judge on Project Runway All Stars, which will debut in November. Here’s hoping the stylish sow says “I question your taste level” at least once. (Via Nymag.com)

Target Has Wu Fever
In the aftermath of Missoni mayhem, Target has decided on a new designer to collaborate with to crash their website and incite shopping riots. Women’s Wear Daily confirmed that the big-box retailer will be unveiling a limited edition collection by Jason Wu in February. Wu is a favorite of Michelle Obama’s, who helped spread Wu fever back in 2009 when she wore one of his gowns for the inaugural ball. (Via Huffington Post)

A $39,000 Backpack Is a Completely Reasonable Purchase
Another thing that makes us feel like we’re taking crazy pills: Mary-Kate and Ashley’s $39,000 alligator-skin backpack is selling out at Barney’s. What recession?

Kanye’s Clothes Inspire Nobody
Kanye West can’t seem to get any love for his bizarro, ill-fitting womenswear line, DW, which he debuted in Paris last weekend. When asked what her thoughts were on the show, Anna Wintour said simply, “Ask someone else.” Snap.