With hipsters pants being all the rage now, it's kind of difficult to keep things that should be out of sight, out of sight.
I personally think that it is distasteful although I understand if it is not intentionally done. I have had episodes where I myself encountered some err... waredrobe malfunction. Then again, I have seen people who does it delibrately. They'd hike up their thongs till their waist but their pants are so low you could tell what brand their underwear was. Not a good look...
I have also seen girls in jeans that shows ~10cm of crack when they are sitting down.
This is an example where it all went wrong.
http://editorial.gettyimages.com/sou...d=935061&cdi=0