What does it mean when young white people want to do this to themselves?

(please note, to the best of my knowledge this is a totally serious, non-ironic “look how good my spray on fake tan I look like a carrot” scenario)

Further complicating the picture is the distinct influence of the far-east. Someone has obviously been travelling around the suburbs of New Jersey promoting the idea that it is cool to style your hair like a space mutant from Dragon Ball Z.

Finally:

Why are they doing this with their lips?

I will leave interpretation to you. Note that the guy on the left looks like an androgynous clown who is melting. These men must spend a fortune on beauty and hair products. Obviously, identity politics is very complicated in America.