This one is cute.
I made these women's panties from white latex (0.35mm) with neon pink edges and black pleats. Making Latex Clothing has a pretty good tutorial on how to make pleats.
To the front side of the panties I attached a "Hello Kitty" decal I created from black and pink latex (Yes, the "Hello Kitty" is made of latex and glued to the panties).
BTW: Dear Sanrio, I used an image of your "Hello Kitty" character for this creation, without asking for your permission. I'm sorry if you are offended by this and will remove the picture immediately on request. I promise, I will never sell any items containing copyrighted material from you (or others). This is just a tribute to your character.