People on 4chan use tuxedo pepe to post things the moderators don't like, so this meme is playing off of that and showing a moderator (the dog) beating the pepe up. There's also the thumbtack in the corner, because whenever a moderator stickies a thread, the thread has a thumbtack icon on it, so these tux pepes put the thumbtack icon in their meme images to joke about their posts being stickied