So the story going around is that retail website lightinthebox.com originally featured this dress, embellished with its blatantly vaginally suggestive decoupage, on its website ... then for whatever reason changed it to the tamer version currently featured.
This story is backed up by what is purported to be a screencap of a cached version of the site, here.
There are a ton of good punchlines to be mined in the comments of the various articles ("What a labia of love for the designer", "Jam out with your clam out", etc.), but either the rest of the Internet is duped, or I am, cuz I don't buy it. The retailer didn't change it at all; someone else did, and made the screencap, and is having a laugh as this goes viral.
For example, the screencap carries a date of April 1. I can't find any previous versions of this website cached at the internet archive.
And of course there's the obvious question of why a retailer would photoshop out such an obvious design feature of a product when advertising it? Like the customer isn't going to notice that she's displaying a little satin Georgia O'Keefe action once she puts it on?
I call shenanigans. I'm probably wrong, but the story is hilarious either way.