Pamela Anderson has bared it all, once again, for a new spread in Paper magazine.

The Playmate stars in the mag's latest issue , wearing nothing but her own line of cruelty-free shoes. Gone are her signature blond locks, which are replaced by a giant brunette wig -- complete with an exaggerated bouffant -- making her look almost unrecognizable.

The 48-year-old, who's obviously confident and comfortable posing in her birthday suit, was photographed by Vijat Mohindra.