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See the NSFW full version after the cut. Also, this one is on the latest issue of Purple.

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Via Debauchette, The Reverse Cowgirl (click that link to see the ad with pubes), and Refinery 29.

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Offended? I can't say I can muster any extraordinary protest. Sex and youth selling clothes is ubiquitous, AA is just not bothering to "beat around the bush" if you'll excuse the pun.