Not much to this one really. You can see Elle MacPherson's nipples because she's wearing a see-through shirt. Ain't it great how that works!?
It's too bad she doesn't really look that good anymore. And I think I see something about to hatch in her hair.
Here are some more posts featuring Elle MacPherson's nipples (because she's topless):
And check out more Elle MacPherson see-through pictures after the jump.