An Australian acquaintance who paraded around in his Speedos referred to
them as "dick stickers".

From http://www.anu.edu.au/andc/ozwords/October_2003/speedos.html :

"In 1928 the MacRae Knitting Mills in Sydney began manufacturing woollen
swimming costumes known as speedos . The company produced a knitted
navy-blue woollen one-piece swimming costume in the same style for men,
women, and children. The one-piece streamlined Speedo paved the way for
other fashions. Men continued to roll their swimming costumes down to their
waists even though topless swimming costumes were not legal on many beaches
until the 1930s (1938 for Melbourne). Speedo initiated and adapted to
changes in fashion and the name became synonymous with the swimming costume.
The men's brief one-piece trunk in the V shape became the hallmark of
Speedo, worn by Olympic swimmers and life savers Australia-wide. Swimming
trunks had existed since the previous century and were worn at the beach
with other garments, or were worn alone by the more daring swimmers.
However, with all the council and government regulations, they were not a
common sight on public beaches before the 1930s. In this decade many
councils removed the neck-to-knee regulations and the men's trunk-style
speedo would make its full impact on the beach in the following decades. All
the puritans' fears proved correct, with the Australian man's anatomy on
proud display, albeit behind the proverbial fig leaf of fabric.

"The earliest evidence at the ANDC of a term emphasising what is covered by
the costume (i.e. the genitals) is the word sluggos, from a 1972 edition of
the Australian surfing magazine Tracks . The word is probably formed from
'slug' meaning 'penis' (originally from Australian Navy slang), and from the
last syllable of speedos . Another possibility is that the word refers to
the appearance of having a slug in your speedos . We have evidence that this
word is still in use today, although the citations have moved away from the
surfing context, and there is growing evidence for sluggers . While I can
remember, and still use, the word dps ('dick pointers') from the late 1970s,
there is currently only evidence of it from the Internet in the last couple
of years and from previous responses to Ozwords --but there are certainly
quite a few people in Wollongong who still use it! Our first evidence of
dick-stickers is similarly late, coming from a 1993 edition of the Sydney
Morning Herald : 'At Whale Beach the boys strutting like roosters in bright
board-shorts and "dick-stickers" (Lycra underwear-style togs named for their
clinging qualities when wet).' We have evidence of dick togs from 1994, and
the Internet provides numerous examples of the acronym dts . One of the more
inventive terms from recent years is budgie smugglers . The ANDC has
evidence of this one from 2000, and it is probably based on the
international English grape smugglers . The Australian penchant for
abbreviating has already manifested itself in this neologism, with budgies
being heard in the recent television series Australian Idol . The Internet
has also provided evidence of budgie huggers . Other Australian words that
seem to have emerged in the 1990s and that we are only now beginning to
record at the ANDC include meat hangers, lolly bags, ballhuggers,
noodlebenders, and lolly catchers ."

Speedos are a blight on Boynton reefs second only to red algae.  Stop
Speedos today!

Hey now... oh, wait, I've never been to Marseilles... never mind.  :)