Playboy

And not just artsy "top half" naked -- we're talking full-frontal, birthday suit naked.

Salahi's rep tells us the shoot will go down later this month -- and Michaele is "very excited" about posing down.

We're told the photos -- in which Montana goes full-frontal -- were taken BEFORE anyone knew about Fishburne's sex tape.

TMZ spoke to the Hedgehog who tells us Charlie -- who recently spent some time in rehab in the wake of his Christmas Day arrest -- was "totally sober" during their time in the house that Hef built.

Ron also tells TMZ, Charlie was smiling and laughing and was overall in a really good mood that night. Shouldn't come as too much of a surprise ... considering Charlie just recently scored the sweetest sentence ever for the Aspen incident involving his wife Brooke Mueller.

Moments ago, Jessie Lunderby (32-24-33) met with officials for the first time since she was put on administrative leave following the nudie shoot for Playboy's Cyber Girl of the Week back in June.

Law enforcement sources tell TMZ officials quickly informed Lunderby of their decision to terminate -- and made her turn in her uniform at the station.

According to our sources, Lunderby was told she got the boot for being "a distraction in the facility."

Lunderby -- who only had a thin layer of blue body paint covering her incredible body -- posed for this picture while at a Stars and Stripes party at the Playboy Mansion back in May.

TMZ has learned the school where Elin is currently enrolled in evening classes -- Rollins College in Winter Park, Florida -- is ranked #7 on the Playboy Top Ten party school list ... beating out UC Santa Barbara, Plymouth State, and University of Iowa.

Rachel hedged when we asked her about a Playboy offer on TMZ Live on Friday -- but we found out that Tiger Woods' #1 mistress has already struck an agreement. A source close to the mag tells us Rachel has the right to pull out any time before the shoot goes down -- which is in three weeks.

We're also told Rachel won't be baring it all -- just the backside ... and the topside.

The video, which is set to be released by Vivid Entertainment, was shot in 2005 ... after Kendra had turned 18. Vivid.com will post even more screen grabs today.

The sex tape that Kendra Wilkinson claims she's desperately trying to stop isn't exactly packed with new material -- sources tell us the skin flick was shot back in 2005 ... right after Kendra turned 18.

Kendra has already admitted that she knew about the tape -- which is now in the possession of Vivid Entertainment.

Between Paris, Sophie Monk and now Holly ... Benji clearly thinks blondes are more fun.

Kendra, who gave birth in December, put her post-baby bod on display at Wet Republic at the MGM Grand.

Hank Baskett ... and Holly Madison's rack ... showed up too.