First of all, the top Stiefel-Whitney class of a manifold is the mod $2$ reduction of the Euler characteristic. In particular, for a three-manifold $w_3 = 0$ (odd-dimensional manifolds have Euler characteristic zero by Poincaré duality). The vanishing of the other two expressions requires more work.
As I explain in this answer, if $M$ is a closed $n$-dimensional manifold, then there is a unique class $\nu_m \in H^m(M; \mathbb{Z}_2)$ called the $m^{\text{th}}$ Wu class such that $\operatorname{Sq}^m(x) = \nu_m x$ for all $x \in H^{n-m}(M; \mathbb{Z}_2)$; here $\operatorname{Sq}^m$ denotes the $m^{\text{th}}$ Steenrod square. Furthermore, if $M$ is smooth, then $\nu_m$ can be expressed in terms of Stiefel-Whitney classes. For example, in this answer I show that $\nu_2 = w_1^2 + w_2$ and $\nu_3 = w_1w_2$.
Now suppose $M$ is a closed three-dimensional manifold. As $\operatorname{Sq}^3 : H^0(M; \mathbb{Z}_2) \to H^3(M; \mathbb{Z}_2)$ is necessarily zero ($\operatorname{Sq}^i(x) = 0$ if $i > \deg x$), we see that $\nu_3 = w_1w_2 = 0$ by Poincaré duality. Likewise, $\nu_2 = w_1^2 + w_2 = 0$. Multiplying by $w_1$ and rearranging, we see that $w_1^3 = w_1w_2 = 0$.
For a manifold $M$, we have
- $M$ is spin $\,\Leftrightarrow$ $w_1 = 0$, $w_2 = 0$,
- $M$ is pin${}^+$ $\Leftrightarrow$ $w_2 = 0$, and
- $M$ is pin${}^-$ $\Leftrightarrow$ $w_1^2 + w_2 = 0$.
As $\nu_2 = w_1^2 + w_2 = 0$, every closed three-manifold is pin${}^-$. Also, it follows that a closed three-manifold is spin if and only if it is orientable. Every spin manifold is pin${}^+$, but the converse is not true as $K\times S^1$ demonstrates where $K$ is the Klein bottle. Finally, $\mathbb{RP}^2\times S^1$ is an example of a closed three-manifold which is not pin${}^+$.