Green’s Dictionary of Slang

insects (and ants) n.

[rhy. sl. = SE/SAmE pants ]

1. trousers.

[UK]J. Franklyn Dict. of Rhy. Sl.
[UK]R. Puxley Cockney Rabbit.
[UK]B. Kirkpatrick Wicked Cockney Rhy. Sl.

2. knickers, i.e. underwear.

[UK]J. Franklyn Dict. of Rhy. Sl.
[UK]R. Puxley Cockney Rabbit.