Henry will miss his side's Championship encounter against Huddersfield Town on Saturday afternoon because he has picked up five cautions from 10 matches this season.
As it stands clubs can only appeal red cards but Henry feels that the time has come for bookings to be challenged.
"I think it's unfair you can't appeal a yellow card because I'm now suspended and don't feel I should be," Henry told the Express & Star. "I think they've come far too easily and I'm sure if somebody looked at them, or an independent panel looked at them, they'd agree. One of them at Peterborough was particularly hard to take.
"As far as I was concerned I was just on the crime scene when Tongo came in with a challenge.
"The referee said I pulled the player's shirt which just didn't happen."
Henry joined Wolves in 2006 from Stoke City.