This is a real product. Think about it: people designed, manufactured and marketed this.
They even made a promo video:
It's not the only such product. Camelflage makes toe-proof underpants. (Complete with "before and after" photos O_O)
It's interetsing the times we live in. "Cameltoe" is the new "panty lines" — except that it describes a much more intimate wardrobe malfunction. In just a few years, the term has gone from porny internet reference to mainstream conversation.
Even Lulu Lemon got in on the action:
Tip via Racked