Oh, how I hate it. It's just another opportunity to make bad decisions. And now here two more reasons to hate it:
Preteens Trading Fairy Wands for Fishnets: Halloween Trend Toward Racy Get-Ups Vexes Parents
Oh, the Horror of Rush Hour
Update: Went to the Halloween parade at school and I didn't see many preteens in racy get-ups -- yes, there were a few in fishnets and short skirts, which for now I'm going to put the blame squarely on the parents. Children to a large extent reflect their parents after all, in the same way that dogs reflect their owners. There were a few very cool home made costumes though, in a time when home made costumes are on their way out: cardboard I-Pod (do preteens acutally want I-Pods? Now, that's scary) and cardboard painting to look like bottled water.
The most inventive one I had heard about but have not actually seen is one where the kid has a cardbox box over his head with a slit near his chest and a painted numeric pad. He told the greeter to push some of the buttons and then he would pop out a photocopy of a 20 dollar bill. (He was an ATM, in case you haven't already guessed).