This gives him a decent wedgie. Red's decked out in his delicious, awe-inspiring green trunks. You can see some people in the front row facing the camera start laughing when Red's ass is facing them. But the ultimate humiliation is still coming. As he's on his hands and knees, Red is viciously yanked up by Perfect, who then holds him there for a few seconds before delivering an atomic drop. Red never bothers to fix the trunks and, for all intents and purposes, wrestles the remainder of the match in a thong. The crowd is going nuts, cameras are flashing. Eventually Perfect pins him with the perfectplex and Red's wedgied ass is there for all to see.
Adding to the humiliation is that the announcers, Vince McMahon, Jerry Lawler and Randy Savage, comment on Red's trunks. Vince says Mr. Tyler is having a problem with his tights. When he's yanked up, Savage says, "look at this." And it continues.
These were my favorite Red trunks. He also wore a pair of red ones - which received wedgies from Dibiase and the Barbarian - and a stars and stripes pair, that IRS wedgied up his ass. But the green were the best. Later he'd be wedgied in them by the Nasty Boys. On the embedded video, the commentary is not in English. I couldn't embed the english version so will just paste that link.
http://www.youtube.com/watch?v=Ta6_dQuYiog
Red Tyler, Hall of Famer.