In the latest chapter (100作品目) of この美術部には問題がある！ there’s a wordplay episode based on different meanings of パンツ. One character uses it in the sense of pants (trousers) but another understands it as panties (underwear).
In the process of clearing up the misunderstanding they seem to imply that there’s a specific way of pronouncing the word when it means “pants”:
Some of the comments on ニコニコ静画 also mention different readings, but the opinions seem to differ:
So, is different pronunciations of this word actually a thing or there’s no difference and it was simply added for comical effect? And if there’s a difference, what’s the correct way?