Here's a little video of Britney Spears on her Circus tour in Tampa. Apparently there was some sort of wardrobe malfunction, because she announced to someone backstage, and inadvertently the entire audience, that her pussy was hanging out. Oh that's a direct quote. Check it out for yourself.
Skip ahead to 0:30, there's really nothing to see. Just listen.
Girl should calm down. It's nothing we haven't all seen before.

Wow......what a virtual visual. i didn't think "hanging" was a verb normally associated with that organ.