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Olivia Culpo Goes Topless In New Ad

Olivia Culpo is baring it all in order to drum up interest in her upcoming clothing line ... rockin' nothing but a tiny bikini bottom in a steamy new ad.

Christian McCaffrey's fiancée posted the short commercial on her Instagram page Friday morning ... and, yeah, it's spicy, to say the least.

Olivia Culpo Insta Story
Olivia Culpo Insta Story
Instagram/@oliviaculpo

You can see the former Miss Universe champion sitting by a pool with her top off ... posing for a camera placed strategically behind her.