spencerkarissa460.jpgPlayboy playmate Karissa Shannon is threatening legal action against Spencer Pratt over the alleged sex tape he has in his possession. The XXX footage not only contains girl-on-girl action with Pratt's ex Heidi Montag, but there's also footage of Karissa and her boyfriend, Sam Jones III.

According to Shannon's lawyer, Hayes F. Michel, the footage "was taken from her possession" and "contains private material."

In a letter sent directly to Spencer, Michel writes:

    "It had been reported in the press that you were attempting to publish, distribute, sell, license or otherwise exploit filmed footage of Ms. Shannon. According to press reports, you are no longer threatening to do that. This decision is wise. Were you to follow through with your initial threat, Ms. Shannon would file a lawsuit to enjoin the sale and/or distribution and seek monetary damages from you."


Michel is demanding that Spencer return all copies of the tapes and put in writing that he will not attempt to "publish, distribute, sell, license or otherwise exploit the footage."

Spencer had been in talks with Vivid Entertainment's CEO Steven Hirsch about selling the XXX footage. However, Hirsch pulled the plug on the $5 million offer when Pratt never delivered the goods.

As for Karissa, just last week the blonde bombshell provided cameras with an "accidental" wardrobe malfunction on the red carpet. Apparently, she's not so shy.