I mean, does anyone really wear anything like that and if so, why do they bother? But we shouldn’t really bother asking, as it’s another Margaret Brundage cover on a Weird Tales issue (January 1936) that as one can see by its cover (Paul Ernst, C.L. Moore, Robert E. Howard, August W. Derleth) was a cavalcade of pulp author stars. There is also interior art for the story which (I guess) Brundage did the cover, in this case done by Vincent Napoli (1907-1981), an artist who seems to have gotten his professional start painting WPA murals and found his way into pulp.
This issue of Weird Tales is available to read and download at the Internet Archive.
That micro garment looks like the bikini from the movie Borat!
It’s probably just torn that way due to their struggle.
And I thought Vampirella’s red outfit was skimpy.