I have never been one to gravitate toward the idea of "wearable art." It brings to mind major eccentricity featuring clashing colors and wizard hats (don't ask me why).
This, however, is more of a wearable art statement. A simple black silk square tries to sum up modern art in a series of declarations. For instance, Pollack Owns Squiggles, Malevich Owns Squares (and maybe the scarf as well), Holzer Owns Slogans... you get the drift. You might not agree with all the scarf's assertions, but it makes for an interesting conversation piece, as well as an extremely wearable accessory (black goes with everything, after all). For the art junkie in your life it's a great gift, because it's art themed without falling into that art fashion category.
Find the Art History scarf at MOCA. It's certainly one black and white opinion.