vagazzle = vagina + bedazzle
Although I'm not entirely certain that she coined the word, Jennifer Love Hewitt recently brought the word to the fore when she told George Lopez on live TV that she was "currently vagazzled," that is, she had shaved her pubic area and glued jewels (or rhinestones) above and around her mommy parts.
Remember the days when a girl shaving her pubic hair into a shape was considered risque at best and lewd at worst? Well, ladies, you've come a long way.