VH1 does its little ’80s retro thing once in a while, all of us in our bad hairdos and unfortunate clothes.

Meaning of the quote

The quote is saying that the TV channel VH1 sometimes shows shows and movies from the 1980s, and when they do, we can see people from that time wearing silly hairstyles and clothes that don't look good. The quote is joking about how people's fashion choices from the 80s now seem very strange and embarrassing.