This character wears crotchless panties.

Crotchless Panties are a form of underwear designed to be worn by women in the crotch area below the waist.
Crotchless panties look kinkier than traditional panties and they are usually worn in conjuction with other sexy lingerie to the purpose of having sex since they do not need to be removed or moved to the side to achieve vaginal and anal insertion.

Note: Do not use this trait with normal transparent panties. This trait is about the shape of the panties and not about visible pussy or anus.

NSFW Example 1
NSFW Example 2