Well, not anymore, sadly. Google has since removed the image. Clicking on the link above will bring you to this page.
How To Remove Images from Google Maps Street View
It turns out that people who are concerned for their own privacy can report the particular image to Google for removal. If you click on "Street View Help," you will be brought to a window that allows you to report the inappropriate image (bottom link).
You will be brought to a page that allows you to fill out some fields about the infringing or inappropriate nature of the photo and then Google will consider its removal.
It seemed to work out for that girl whose underwear is no longer searchable on Google Maps. (For the record, it wasn't me who reported it.)
Forum discussion continues at DigitalPoint Forums.