'The White Lotus' Walton Goggins Strips Down to Speedo in Racy Photo Shoot

Walton Goggins’ "White Lotus" character may have been a bit mysterious, but he’s not holding anything back here -- literally -- 'cause the actor went all in, stripping down to his Speedos!

It’d be a crime not to see these pics ... Walton's confidently flaunting his righteous gemstones in a skimpy yellow banana-hammock, striking poses on a yacht -- talk about a nautical shoot with a whole lot of naughty.

It was for Cultured magazine’s cover shoot, so you know there was some serious styling going on -- Walton rocked cowboy boots in one shot and a half-buttoned corduroy shirt in another!

Even with all the accessories, Walton came fully packed for the photo shoot ... and he's definitely in character, living his best life as a male model who knows how to work it!

Walton’s known for going all in on his characters, and he’s not shy about it. When it came to "The White Lotus," he mentioned in the accompanying interview how his intense isolation, mirroring the character of Rick, was part of his process on set .... and his seriousness put off one his costars.

It’s a mystery who Walton was talking about -- he mentions a fellow male actor. But the gossip mills have also been buzzing for a while that he butted heads with his costar Aimee Lou Wood. But hey, that’s all hearsay -- nothing confirmed.