Definition from Wiktionary, the free dictionary
From spank + -ies.
spankies (plural only)
- (cheerleading) Full underpants, colour-coordinated as part of a matching outfit and designed to be seen safely under skirts.
- 2008, Debbie Reed Fischer, Swimming with the Sharks, p. 51:
- The skirts flare out in just the right way, and our spankies have little sequined sharks sewn on the rear.