There is currently pantyjob, panty_on_penis, penis_in_panties, and panties_around_penis. I feel like some of these are redundant to each other... I guess people just made most of these tags without any real discussion on what differentiates them.
(There was also one post under penis_under_panties but I changed it to penis_in_panties.)
And I don't know what the deal is with penis_under_clothes... Some of it is people putting their penis in other people's clothes (post #1137566, post #1148629) and some are penis-having people wearing clothes which show a bulge (post #1115262, post #1274394).
Updated by Toks