The Playboy Bunny costume is one of the most recognized outfits in fashion history. So what better way to kick off the collaboration between Playboy and the Palms Casino Resort in Las Vegas than with a slick new reinterpretation of that sexy suit? The outfit will be worn exclusively in the Playboy-themed venues set to open this spring in the Palms' new 40-story tower.

On a recent crystal clear night, Mr. Playboy arrived at the Palms' 55th-floor ghostbar for the unveiling of the new costumes, along with their creator, renowned "glam-rock" designer Roberto Cavalli. With the new Playboy-themed tower taking shape next door, Hef and Cavalli sat beside a catwalk as Playmates modeled not only classic Bunny costumes, but also Cavalli's new creations.

"It was not easy to reinterpret it," Cavalli told Playboy.com. "It is such an iconic costume. I tried to do my best, especially because my fashion is very sexy. I love to make dresses for sexy women, and to make a dress for Playboy for me was really a dream."

"I saw and approved the designs from sketches that were done by Cavalli," Hef explained after the fashion show. "Cavalli is a world-class designer, and we are pleased and privileged to have him involved with us. What we're doing is contemporizing a design that, as Cavalli admits, had a tremendous influence in terms of his own work. And what you'll see at the new Playboy Club at the Palms will be a combination of the classic costumes and these new contemporary designs."