Nide one Deacs! Next photo is reportedly German WW2: https://www.liveauctioneers.com/item/50305538_agfa-lupex-photo-german-pin-up-nude-wwii-era but I certainly prefer the starlets...
The Nachrichten für die Truppe airdropped newspaper often had a page 3 girl sourced from various places. Could be a typical publicity photo of an actress like Marte Harell or a more a exotic image from an art magazine. But they were not like the typical softporn pin-ups used on German leaflets dropped on Allied troops.
These were rather typical. Especially the actresses were popular. German society maintained highest moral standards in that era - in other words: they were quite prudish and inhibited ;-) This one is pure fantasy
Well, exceptions proves the rule Night of the Amazons - Wikipedia But this was, of course, far away from usual moral standards, ahem....
The Allied Blockade of Germany must have been more effective than the Admiralty were letting on. There seems to have been a complete shortage of lady's undergarments.
The National Archives | Research and learning | Exhibitions | The Art of War | Illustrations | Magazines "German girl gymnasts" Artist unknown, 1939-1945 Catalogue ref: INF 3/1774 Links to the Catalogue Image for a series illustrating life under Nazi rule, depicting a line of German girl gymnasts. Capturing the Aryan ideal of health, strength, beauty, those living under Nazi rule were expected to partake in ‘Strength through Joy', which included sports training, in order to contribute more productively to German life."
3 years later I did some digging. I see it was created using this image. Meisel Art Gallery Folio Print PEARL FRUSH Calendar Girl Pin-Up Art GoodQuality | eBay Pearl Frush - Wikipedia