It may simply depict a person dressed in fetish clothing, which could include undergarments, stockings, high heels, corsets, or boots.
Many of the 'classic' 1940s, 1950s and 1960s-era fetish artists such as Eric Stanton and Gene Bilbrew began their careers at Irving Klaw's Movie Star News company (later Nutrix), creating drawings for episodic illustrated bondage stories.
[1] Sutcliffe's work was an inspiration for Dianna Rigg's leather-catsuit-wearing character in The Avengers, a TV show that "opened the floodgates for fetish-SM images".
The boost that depictions of beautiful women in tight fetish outfits give to the sales of comics to a mostly teenage male comic-buying audience may also be a factor.
[2] Around the same time, fetish artists influenced the cartoons of George Petty, Alberto Vargas and others, which featured in magazines like Playboy and Esquire.