On a side note, the in-universe reason for why Cammy wears a thong is so as not to restrict her legs when kicking, right? Chun Li wears a thong too, just with tights.
There actually is some irl precedence for that, ballet dancers wear a "dance belt" which is a type of thong so as to not restrict their movement, generally the idea is it's underwear of course and not visible, but the idea is not so crazy as it may seem at first glance.
I find it interesting that early on there was a bit of an attempt at realism with the female fighters as they emphasize kicking over punching since women don't have as much upper body strength as men, they eventually dropped that idea with other female characters like Sakura and it really doesn't matter, but it's interesting to think about in regards to Chun Li and Cammy.