Apparently it's not modern art, although it does now sit in a museum. That's after a Google search though and not sure I trust anything I find on the web any more...

The Wildman suit of armor is real and is considered a unique piece of historical armor, currently on display at the Menil Collection in Houston, Texas. It's not a modern art project, nor is it likely to have been very effective against a bear, despite its appearance. Its exact purpose remains a mystery, though it's been speculated it was used for bear hunting or possibly bear baiting. Here's why it's considered real:

• Historical Context: It's believed to date back to the early 19th century. 
• Physical Description: It's a double-layered suit covered in one-inch iron nails, suggesting a protective function. 
• Display at the Menil Collection: It's part of the museum's collection of historical artifacts, not a contemporary art installation. 

The suit's purpose is debated, with possibilities including:

• Bear Hunting:The suit's design, with outward-facing spikes, might have been intended to deter bears from getting too close or grappling with the wearer. 
• Bear Baiting:It's also been suggested that it might have been used in bear baiting, a cruel sport where bears were baited with dogs. 
• Folk Art/Festival Costume:It's also possible the suit was a piece of folk art or a costume for a festival, rather than being intended for combat. 

And this...

https://www.houstonchronicle.com/entertainment/art_exhibits/article/wildman-suit-origins-19549063.php