Complex sentence: "Derelicte" is the name given to the fashion line designed by Will Ferrell's character Mugatu and is a parody of a real fashion line created by John Galliano in 2000.
Split into simpler sentences: Derelicte is the name given to the fashion line designed by Will Ferrell's character Mugatu. Derelicte is a parody of a real fashion line created by John Galliano in 2000.