In frames 9-13 and 19-20 in the xkcd comic, you can see some patterns generated by the rules. The thing we want to know is what's funny about "I call rule 34 on Wolfram's rule 34"?
I'm not totally sure what the significance of rule 34 is (except the Internet porn joke on xkcd 305 [credit to Jason Slocomb's comment]), but the point of the comic was that some poor dude is simulating our entire universe using a Turing machine. The idea of a Turing machine is essentially that a table of data can be used to run computations on other data (i.e. a program is the first table and the input and output are the other table).
The first table (the program) gives rules that tell the machine what to do with the data. Wolfram claimed to have boiled down everything to the smallest number of rules possible to be able to carry out all possible computations (a universal computer).
He said it needs 2 states and 3 colors or something (I might have the order backward). I think the states refers to ( 0 / 1 ) and the colors refer to the kind of operations you perform. If you studied some assembly this will make more sense.
The most elementary computation is when 2 bits of data get compared to yield a third. These are called boolean operations. There are 8 possible:
0;0 -> 0
0;0 -> 1
0;1 -> 0
0;1 -> 1
1;0 -> 0
1;0 -> 1
1;1 -> 0
1;1 -> 1
You can do all of this with a single "color" of comparing (like an XOR circuit for example) and even merge this operation with the write operation. Then by keeping 2 control bits somewhere (o and 1 at the beginning of your memory) you can accomplish writing a plain 0 or 1 by comparing those bits to themselves or each other. If you link a bunch of XOR circuits together in different patterns you can achieve all 8 outcomes. Wiki XOR for more on that.
But most programs require another very important feature: you have to jump to different parts of the program and then jump back. so jumping is an entirely different color.
And of course you have to read bits from memory.
So all in all Wolfram said he could make any program (that means all conceivable programs exhaustivally) out of just 3 "colors".
Stephen Wolfram has done extensive empiric research on these Turing patterns; staring at them, meditating on them, cataloging them, and comparing them by studying hundreds of pictures and graphs of their implications and so on.
So the punchline of the joke, I presume, is either just that when the poor guy moving rocks gets to the part of his universe simulation dealing with the research work of Wolfram, and all the brain activity involved etc, the rock patterns get really recursive, or it has something to do with rock simulations of Internet porn involving Wolfram's cellular automaton rules??!!?
Recursively patterned rock-Internet porn simulations?
Internet pornography with rock-simulations?
Something like that I suppose.