The answer is copied from http://www.nciku.cn/search/all/camel%20toe:
1. the visual effect created when a woman's trousers cling too tightly to the crotch, emphasizing the shape of the pudenda
2. C20: from the alleged similarity between this effect and the shape of a camel's toe
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You are in very dangerous territory here. The sentence should be "Don't use leggings without pants! They might be able to see your camel-toe." It is not polite. I don't recommend you going around talking about camel-toes. Particularly to horny guys.