Okay, technically it came from American Apparel. It's just so... so... SO! I like the Boing Boing blogger's suggestion of wearing it over a speedo, and American Apparel's choice of pairing it with a Western-villain moustache. Would a big, gold chain be too much? I really hope to see some of these on Main Street this summer.
If the speedo is a little revealing for you, this could go over very well with a pair of ratty swimtrunks rescued from the bottom of your Dad's closet. Just make sure they used to be neon pink with a contrasting accent, but are now dusty pink with a dusty accent.