It could be about a character who is in a situation where they've lost their panties in a non - sexual way, like in a comical accident. Maybe it's part of a story about a clumsy or forgetful character.
Perhaps it's a mystery where the discovery of 'no panties' is a clue. It could be set in a boarding school or a shared living situation where the missing panties are a source of confusion and lead to the characters trying to solve the mystery of what happened to them. This could involve themes of friendship, as the characters work together to figure it out.
If not adult - themed, it might be a satirical look at society's preoccupation with certain items of clothing. The 'no panties' situation could be used to highlight how people overreact or make assumptions based on something as simple as the absence of an undergarment. It could also touch on themes of body image and the pressure to conform to certain standards, where the character without panties is either unbothered by it or learns to be okay with it in a world that might judge.