Would wonder skin keep damage from recoil, confusion, sandstorm/hail, items (rocky helmet, sticky barb, etc...), abilities (rough skin, iron barbs), and poison/burn away?
Wonder Skin lowers the chance of status moves hitting by 50%.
e.g. Venomoth with Wonder Skin is against a Rotom who used Thunder-wave. Thunder-wave will have 50% chance of hitting Venomoth instead of 100%. The same goes for any status moves aimed at Venomoth.
So to directly answer your question: NO.
If you are referring to Magic Guard like Legacy Lucario said then yes. Though he does get recoil from Struggle.