About halfway through the broadcast, Bush winked at Russert and crooned "I'm getting excited by your questions Tim. I'm going to have you naked before the end of this show!"
Shortly after that Bush reached across to where Tim was sitting and tore off Russert's lapel, exposing what appeared to be a nipple ornament that said "GOP 4EVER". I went over and over it again with my Tivo, and yep -that's definitely a nipple right in the center of that "O"!
NBC has apologized for the wardrobe malfunction, but Bush's invitation to the Grammy's has not yet been revoked.