I was thinking the boobie hanging out under the shirt had a clever name too but all I could think of was Beavis's love of thingies hanging so you can see the bottom of them.
And I have to say, probably one of my earliest thoughts that showed I was on my way to manhood was loving the thingies hanging out the bottom of the shirt in the very video (David Lee Roth's "Just a Gigolo") Beavis/Butthead were commenting on... Ah yes, gotta love the bottom of those thingies.
I'd consider perhaps calling it "Sportin' a W", but I freely admit I'm not very creative... at times.