Don't get careless with Gordos. Between his reflector and his blaster, Wolf can easily reflect them.
His blaster isn't worth trying to inhale, so just avoid it. As always when fighting an opponent with a good projectile, try not to stay on a level with him. Make use of platforms.
Wolf can be tough to approach thanks to his blaster. I like to dash cancel f-tilts with DeDeDe. Or make him approach you with some carefully tossed Gordos.
Oh, and once you get him offstage, go for the kill. Wolf's recovery is pretty bad. F-air him off the side, or kill him with a d-air. Even a n-air can do the trick when you're facing a character whose recovery is as short as Wolf's.