The guys wore underwear and not much more. Lanky Late Night Theatre impresario Ron Megee, with a sweater tied around his neck and a tennis racket in his hand, auctioned off their undies. Megee and Jon Fulton Adams' West Bottoms loft was packed with people bidding on the undies. The auction raised money for Shuttlecocks, the 18th Street menswear store, and showed off the Student Union, home of the city's most eclectic and eccentric parties. Megee and Adams have allowed their spacious loft to morph into a roller disco, a sand-covered beach and the Corleones' dining room. The art set swarms to the Student Union -- 350 people crowded the place for an April Fool's Day party -- and dresses for the occasion. A fund-raiser to pay for the Monitor's tour had everyone dressed in 1980s communist garb and drinking vodka. At a David Lynch party to celebrate the surrealist filmmaker of Blue Velvet, Megee and friends acted out scenes from their favorite Lynch works. This semester's calendar is already filled with theme parties -- zombies, speakeasies, Christmas. Check 'em out, if you're lucky enough to get invited. Or if you fit this description: "Students needing a place to wear glitter, boots and heels while indulging in after-school club events."