To dream of a wig or a toupee represents feelings about dishonestly projecting an appearance or image to others. Awareness of yourself projecting an appearance or personality that is not your own. A thinking style that is fake. Wigs point to thoughts, ideas, beliefs, and opinions that are not your own which you are attempting to take credit for.
Negatively, a toupee may represent a wish to avoid embarrassing yourself appearing as a failure by faking appearances. A wish to appear to others better off than you really are. Feeling embarrassed that you look ridiculous faking something. Feelings about being laughed at for faking your image.
Alternatively, dreaming of wig or toupee may reflect your anxiety or self-consciousness about hair loss. Feelings of embarrassment for having to cover up hair loss.