You're in luck!

Why would you carry an Axe over the should opposite the hand you're holding it with?

That's not an axe, it's a bindle - exactly what a fool (in french, le fou) would carry.

What is up with his pants

He's wearing medieval trousers - that is in fact two 'hose'

These trousers, which we would today call tights but which were still called hose or sometimes joined hose at the time, emerged late in the fifteenth century and were conspicuous by their open crotch which was covered by an independently fastening front panel, the codpiece.

And again le fou is so stupid, his junk is out and all over the place.

See: https://en.m.wikipedia.org/wiki/Trousers