The ASA could not comment on the proposed advert, which is based on the Cerne Abbas Giant in Dorset and is being painted on Monday (July 18), until it had seen it.
However, the authority said that an image of such a sexual nature could raise objections among some members of the public on the grounds on decency. It will wait to see consumer reaction before taking any action, it said.
The ad is the latest in a campaign by Unilever UK Home and Personal Care for Lynx.
It is running a ‘Spray More, Get More’ ad featuring two young ladies who are compelled to rip off their clothes in excitement and cover each other in mud. The ad is shown after the 9pm watershed because of its adult nature.