When someone is going to take your place. Someone is coming for your wig if they’re going to take your place or you are coming for their wig if you’re going to take their place.
1)You think you’re the bad bitch? Well I’m here now and I’m coming for your wig!
I’m coming for your wig-I’m going to replace you
2)That new hire? She thinks she can do my job better than me? She’s coming for my wig!
This shows that someone thinks someone else is trying to replace them at their job.
She’s coming for my wig- she’s trying to replace me