The 'Cat Beards' is another meme to showcase that cats are the apex predators of the Interweb.
The photo meme showcases cat owners positioning their cat's chin in front of their own face to make them appear to have a furry beard and mouth. This meme can easily be done by anyone who owns a cat or anyone who has access to a cat.
I'm not much of a cat person, but I have to contest that these cat beard memes are funny. There are many possible combinations of cat beards. A person could try doing a cat beard meme with a baby, a stuffed animal, a dog or even a lamp. The possibilities of cat beard combinations are numerous and hilarious.