A gay or strait male who pursue drag queens for sexual or relationship purposes. While they may date other people, they find themselves predominantly attracted to drag queens/men who dress up like women. The term is in reference to the men wearing wigs while a wig chaser expresses interest in them.
"You are such a wig chaser. All you ever do is go to drag shows and look for a date with a performer. Soon you will be cruising drag pageants."