This is a knitted bra w/ pouch, created by Lisa Daehlin (Lace & Tea in NYC).
Her witty knitting instructions can be found here. Lisa notes that though this was "designed to carry a condom or five [i]t will also accommodate a credit card or a small cell phone." (I imagine the Star Trek ladies used these, since they didn't have pockets.)
She created it for the Condom Amulet Project, a project inspired by the fact that, according to the Center for Disease Control and Prevention (CDC), the number of Americans over 50 who are infected with HIV have grown over 5 times (16,300 people in 1995, to 90,600 in 2003). Women who no longer use birth control after menopause still need to practice safe sex.
There. Now back to work.