It's informal and often used in casual or humorous situations, not for formal writing. At the party, someone screamed that a guy was running around buck naked.
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Colloquial Usage
Used primarily in North America, other regions might use different terms. The movie scene showed the man waking up buck naked on the beach.
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Connotation of Vulnerability
May imply vulnerability or being caught off guard, as clothes often signify preparedness. When the fire alarm went off, he had to evacuate the building buck naked.