Here's what CNN said about it:
"It used to be that after the bride and groom said, "I do," they were to go immediately into a nearby room and consummate the marriage. Obviously, to really make it official, there would need to be witnesses, which basically led to hordes of wedding guests crowding around the bed, pushing and shoving to get a good view and hopefully to get their hands on a lucky piece of the bride's dress as it was ripped from her body.
Sometimes the greedy guests helped get the process going by grabbing at the bride's dress as she walked by, hoping for a few threads of good fortune. In time, it seems, people realized that this was all a bit, well... creepy, and it was decided that for modesty's sake the bride could toss her bouquet as a diversion as she made her getaway and the groom could simply remove an item of the bride's undergarments and then toss it back outside to the waiting throngs to prove that he was about to, uh, seal the deal."
Um, yeah, I knew there was a reason I didn't like those traditions. Plus, it's embarrassing for the bride and groom, too. I personally don't want FI "all up in my business" in front of 150+ people, including my grandmother. I'm sure my dad doesn't want to see that, either. Plus, unless they're in a relationship and counting the days until they get a ring, girls do NOT want a spot light shone on them or the fact that they're single.
(I'm sure my dad will welcome FI into the family with open arms after witnessing something like this...)
Perhaps the most uncomfortable part of the whole ordeal is having to watch (or God forbid, BE) the ones who catch these things. Now, there's some sick joke that the garter catcher must slowly push the garter up the leg of the bouquet catcher, while everyone's around watching and egging him on. For goodness sakes, these people may not even know each other! And, what if their significant other is there (and not the garter/bouquet catcher)?
It's the 21st century, and I don't see why humiliating yourself and your friends on your wedding day is still a "tradition" that needs to be followed. Personally, it seems like a barbaric tradition to start with, and personally not one that I condone or intend to follow. Of course, to all you traditionalists out there, there is something to be said for just having fun and enjoying it. If it's for you, then go get 'em, tiger! Just work on your throwing technique ahead of time...