Thereby hangs a tail

I'm in town with my friend Paul Bryant today. We were talking about old Soho, the days of The Colony Club and a documentary we saw made by Paul Weller a few years ago which I am trying to trace.

Old Compton Street has changed a lot since the early eighties and as if to illustrate the point we spot the 'fox'. I can't possibly imagine the back story behind this accessory, but nothing surprises me anymore here. That's why I love London so much.