Green’s Dictionary of Slang

scungies n.

[joc. use of scungy adj.; such trunks are seen as too sordid for public display]

1. (Aus.) men’s bikini-style swimming trunks, often worn under surf shorts or ‘baggies’.

[Aus]Lette & Carey Puberty Blues 3: The ultimate disgrace for a surfie was to be seen in his scungies. They were too much like underpants.
J. Craik Face of Fashion 141: Trunks [...] are sometimes worn over briefs (scants or scungies).
[Aus]B. Moore ‘Aus. Sl.’ paper presented to Leicester U. Slang Workshop, Sept. 2012 n.p.: The speedo variety [of trunks] developed an extraordinary number of risqué or simply curious synonyms: [...] scungies.

2. (Aus.) sports briefs, worn under shorts.

[Aus]Canberra Times (ACT) 16 May 4: [advert] Girls 'Scungees', $2.50 Stretch nylon sport brief in assorted school colours, including brown, maroon, navy.

3. (old) clothes.

Tharunka (Kensington, NSW) 19 Oct. 9: [advert] Hippie ball 1970 Spring Fling [...] Dress: Hippie type scungies.
[UK]Indep. on Sun. 1 Aug. 16: Scungies: Old clothes.