The Wolf rank is for boys who have finished first grade (or who are 8 years old). To earn the Wolf badge, a boy must complete six required adventures and one elective adventure. His parent or guardian and den leader approves each requirement by signing his book, and the boy receives an adventure loop for each adventure. When the boy has met all requirements, the Wolf badge is presented to his parent or guardian at the next pack meeting. During an impressive ceremony, the parent or guardian then presents the badge to the boy.
After he has earned the Wolf badge, a Wolf Scout can work on the remaining 12 Wolf electives until he finishes second grade (or turns 9 years old). He can choose elective adventures that may show him new hobbies and teach him skills that will be useful during his Boy Scout years. When he completes an elective adventure, he receives an additional adventure loop to wear on his belt.
Click Here For More Information and Complete List of Requirements & Electives (Cubscouts.org Link)