The hood and cape of the Werewolf Hood are made of different materials even though it is supposed to be a singular cloak. The hood seems to be made of a fabric (if you zoom in, you can see the weaving, and it is not shiny like the cape), whereas the cape seems to be made of leather (kind of like a leather jacket, look at the smoothness and shine).
Screenshot so you can see what I mean.
Hello there @SkywardSoul!
Thanks for taking the time to share your report about the Werewolf Hood with us, and for including an image which demonstrates the difference in fabric. I've passed this along to the development team so they can take a closer look.
If we require any additional information from you, we'll reach out within this thread. In the meantime, please keep an eye out within the News & Announcements forum for any future updates.
Thanks! 
devtrackers.gg