Suspenders

[Pica Pica]

fashion statement

This is a fashion statement, and most other fashion statements look equally absurd.
http://4.bp.blogspot.com/-7r4zo28E_R0/TbvFWWoZ86I/AAAAAAAADRI/Vrx7C26qofY/s400/princess-beatrice-wearing-her-royal-wedding-hat.jpg

Bonus points for the eyes that scream "CRAZY' halfway around the world.

Well, she is inbred.

[CFPrice]

I wear suspenders (formally and casually) and can sort of give you my opinions and insights into them. Keep in mind that my fashion sense is a bit more 1890s than 1950s or modern day. Formally I wear dress pants with button-in Y back suspenders (black) under a vest or jacket. Wearing the same pair casually I may wear them off the shoulders, or over a dress shirt. I always sew my buttons into the inside of my waistband, never the outside. Necessity required I buy another pair recently, and I decided to go for some gray clip-on X back. I wore them casually under a T-shirt -- which I don't recommend, if you're anything but flat they will accentuate the difference between your chest and stomach. I also wore them more formally under a vest. I saw a guy wearing clip-on X backs with just a dress shirt, and he looked perfectly fine for the event. While I prefer the Y back, I mostly see men wearing X backs. I would tend to think an H back would be a big no-no.

[Espenoah]

Yeah, leave H-backs to lederhosen, not in casual use.

[justmeinoz]

Must admit my first reaction was the same as Padma's.   I never wore them myself,  belts are a lot more practical I think.
The British Police apparently fixed the bovver boys by confiscating their braces and their belts. (they wore both) Hard to fight and hold your trousers up at the same time!
Karen.

[JungianZoe]

The British Police apparently fixed the bovver boys by confiscating their braces and their belts.

I just got an image of police neutering their captives, and I must admit... I laughed.