Dogs have an instinct tendency to defend their territory. They will defend everything they own in it. While doing so, they may also exhibit wariness even with their masters.
I feel, as long as they are protective of their own things-bowls, bones, toys, etc, it's fine and when I was a kid, I'd also hate if anyone plays with my favorite toy. On the other hand, like in your case, if he picks things like cloth, shoes, etc, then you need to get things right. You need to first make him understand that there are things that are not meant to be played with. You can teach him leave it command ( please check the youtube videos for the same ). Along with that, there are commercially prepared solutions in the market. They are made from natural substances. You can spray it on things that he picks very often. The spray leaves a very strong smell and has a very bitter taste which your dog will hate.
In this case positive reinforcement is very important. If he exhibits good behaviour by not picking it up those things, applause him and give him a good treat. Also, if he does pick a stuff refrain from shouting and saying leave it now. This is because dogs often tend to take this as an encouragement and may get even more excited. You are in a way encouraging him to exhibit a bad behaviour.
Secondly, I'd like to know the background of the parents of this puppy. Does he have a parentage of stray dogs? If you have adopted a stray puppy, it's usually suggested that one should neuter them because they do have a wild instinct.
You can also seek professional help from a dog behaviorist. I think abandoning the dog is never a good step because when you do so you spoil a precious life.
Ask a very simple question to your mom- Mom did you also abandon me when I did anything wrong in school? She'll understand.