>>125099587David Ayer said he based him on the outrageous ways Mexican drug cartel members present themselves on Instagram.
I like the interpretation that this Joker is maxing out the gaudy factor of that fashion style on purpose to mock them as they are the biggest organized gang criminals of this time, like how his OG 1940s outfit was a bright purple zootsuit, making fun of how gangsters dressed at the time.
Although that's probably giving his characterization too much credit, judging from his other movies Ayer seems to just think Mexican drug cartels are badass looking and that's it lmao.