Sporting a blond wig, the striking red "Baywatch" one-piece and even more striking cleavage, Lauer showed some leg as he did the classic "Baywatch" slo-mo sprint across the plaza.
Not to be outdone, co-anchor Willie Geist showed up as the Hoff, David Hasselhoff, complete with bared and quite hairy chest.
The "Today" crew were all appearing as iconic TV characters as part of the show's Halloween celebration. Al Roker showed up as "The A Team's" B.A. Baracus; Natalie Morales-Rhodes and Savannah Guthrie rode a bike in as Laverne and Shirley; Carson Daly appeared as Officer Jonathan Baker from "CHiPs," driven in on a motorcycle by Ponch himself, Erik Estrada; and Hoda Kotb and Kathie Lee Gifford dressed as Betty Rubble and Wilma Flintstone.
"Baywatch" alumna Carmen Electra showed up to help introduce Lauer, being a good sport in a one-piece bathing suit in late October New York weather.
"Is someone drowning? I brought my cans," Lauer said, not doing much to raise his likability quotient with the women in the audience.
This isn't the first time Lauer has cross-dressed for "Today." In years past he's showed up as Jennifer Lopez and Paris Hilton. But the buxomness of his Pam Anderson costume has taken the concept to a whole new level.
As Electra marveled, "Those are bigger than mine!"