Ummmm I’m 99% sure he’s ever mentioned cutting it in canon, he’s far too in love with it to cut it ;} It’s sort of his security blanket.
I headcanon that he does style it, he’s braided it like Thor, he’s into trendy accessories and sparkly clips, he’s dyed colorful streaks into it. He’s very into the manbun fad as long as there’s a lot of front pieces loose:
playing around with colour. inspired by that really awesome piece of fan art where thor is a boxer and loki’s stuffing money into thor’s briefs. i can’t find it now but you guys know the one i’m talking about right it was superior to this in every way and thor actually had nipples.