What do naked Pamela Anderson, a trash can, stripper heels and a whole tub of glitter have to do with each other? Not sure -- but it makes for quite a feast for the eyeballs in the new issue of Flaunt magazine. It also sounds like just another Saturday night for the former Baywatch babe!

Pam served up the sexy for the mag's cover, photographed by famed photographer, David LaChapelle, and she's definitely still banging at the ripe old age of 48.

They say a picture is worth 1,000 words but there's not enough words to describe this racy snap!

You guys remember a couple years ago when Pam cut off her hair into a bob and covered up her tatas in an attempt to do her best Donna Reed impression? Yeah looks like Pam forgot about that too ... thank God! This is the way we like seeing the buxom blonde -- on her knees.