A waistcoat often suggests formality and is commonly worn in business or formal social events. He donned a waistcoat for the job interview.
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Layering Piece
A waistcoat is typically a mid-layer garment, not usually worn as the top or bottom layer of clothing. In the chilly office, she wore a waistcoat between her shirt and blazer.
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Fashion Accessory
Waistcoats can be used to add a touch of personality or color to a standard suit ensemble. His red silk waistcoat added a pop of color to his black suit.