This reminds me of a brilliant idea I had a couple summers ago while drunk on cheap beer on a beach to invent swimwear that was designed with pixelated images. I'll never do anything with that idea and someone by now is already making money off of it so that's why I continue to drink cheap beer.
I just last month saw some art magazine talking about a sculptor who's getting a bunch of accolades for work that's basically a bland, accessible (i.e. the subject matter is cats with no subtext at all) version of something I came up with when I was 15, executed and then forgot about. Not the first time something like that has happened by a long shot.
I dunno man, I didn't do that much of a thorough search, but I've never seen it before and I think it's brilliant. I've never been one for wearing logo Ts or things like that, but swimwear's always one of those things, especially for guys, which doesn't get very creative. Back when I swam competitively someone did make a speedo that wasn't entirely flesh colored, but had a flesh colored circle in the butt revealing a butt crack, but that's about as close to your idea as I think I've ever seen. Go make your millions but don't forget about us.
When I was born, we lived in an apartment complex that was "clothing optional" and lived there until I was about 6. It was walled off so the side I lived on couldn't see the other side, but there was still an effort to do away with it back in the 1980s. So I guess they did at some point.. I dunno. In that case, the nudists were totally respectful, but I guess it was just the very thought of people being nearby and naked and that MAYBE one of the children could get over there that spurred the change. But this guy's just being a dick because he has one.
Reminds me of a Halloween couples costume idea I had: nudes. Both wear skin colored nylon bodysuit with fur pubes. Girl wears plastic tits over her tits, guy wears a flesh colored dildo over his dong.