She is wearing a stars and stripes bikini.
It shows Vice Presidential candidate Sara Palin holding a rifle. It's an unfortunate aspect of modern life that just about any woman who enters the public sphere at a national level is presumed to have posed for risqué photographs (anything from cheesecake shots to nude pictures) at some point in her past, and that (whether she has or not) examples of such photos will inevitably be fabricated and put on public display.
