Hollywood's blonde bombshell Pamela Anderson let her hair down at a celebrity studded New Year's party but ended up having a wardrobe malfunction.

The 'Baywatch' beauty was hosting a party at Paramount Studios in Hollywood when her white dress slipped. The 42-year-old actress had come on stage to count down the final minutes of 2009 when the wardrobe malfunction occurred.

But the former Playboy model did not realize the slip until American Idol star Adam Lambert who too had joined her on stage pointed it out.

The 27-year-old attempted to pull up her top, but Anderson held him away before realizing the faux pas.