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A term describing skirt or miniskirt worn very low on the hips, wherein the top of the skirt is low enough that it seems a certain amount of grooming of the naturally occuring hair in the lower area must have taken place (otherwise it would currently be on display). Thus, the person in question would have had a haircut on both areas in order to appear in public.

Also: two haircut pants
"Check it out, that's a two haircut skirt! Any lower and she'd get a ticket!"
by grumblefish September 21, 2007