When I was about 7 yrs old I made a few assumptions about Lobo based solely on pictures I'd seen of the character
Assumption 1: Lobo is a badass - turned out to be correct
Assumption 2: Lobo is either a demon or a ghost - clearly wrong
This design was an attempt to avoid anyone making assumption 2 again. I wanted to give Lobo a military/space look to try and emphasize the fact that he's an alien bounty hunter.
Lobo's protective gear is simply scavenged from victims/targets hence the lack of symmetry. He doesn't take it because he needs it, but takes it because he likes it. The hair was a last minute decision, I figured he might occasionally cut it from time to time