I would wear it without any other context.

Because "It's no use" is an often memed voice line by Silver in Sonic 06, I would assume anyone wearing that would be indicating you should use it/its pronouns for it while also referencing the meme as a joke/reference.

"It's no use" here means "It's no use fighting me, I'm too powerful." In Sonic 06, Silver attacks you by picking you up telepathically and throwing you against the wall. Because Sonic's standing up animation takes so long, he can easily chain these attacks, and because Sonic is a hell-game, you quickly die from losing all your rings and taking one more hit.

Example clip from Game Grumps, warning loud yelling at about 4:30