The 55-year-old cohost decided to go in drag this year, stepping out in Rockefeller Plaza in the sexy red bikini made famous by Anderson's iconic Baywatch character C.J. Parker.
Lauer completed his hilarious costume with a long blond wig, prosthetic breasts, skin-toned tights and white sneakers with two red buoys. He mimicked Anderson's famous slow motion run across sand while fans watched on during today's taping.
But sporting the red swimsuit better than Anderson is quite the difficult task. While Anderson is definitely sexy in the iconic look, Lauer definitely brings the funny with his creative costume.
So who wore it better, Lauer or Anderson? Decide and let us know in the comments below!