Katy Perry on SN Elmo t-shirt

Katy Perry references her banned "Sesame Street" episode with a low-cut Elmo tee on the "SNL." Photo: Dana Edelson, NBC

The folks at "Sesame Street" must really be feeling like boobs!

After the classic kiddie series cut her out of an episode for showing too much cleavage, Katy Perry got the last laugh by wearing an even more revealing Elmo T-shirt on the season premiere of "Saturday Night Live."

Perry, 25, donned the racy red monster shirt -- a wink at her banned "Sesame Street" segment in which she pursues Elmo for a play date while wearing a bridal veil and an acid-green dress with dramatic décolletage -- for a "Bronx Beat" skit with host Amy Poehler and former "SNL" regular Maya Rudolph.

Wearing a tartan miniskirt, nerdy glasses, and pigtails, Perry played Maureen DiChico, a still-growing teen whose buxom new figure throws folks at the local library a curve.

Poehler and Rudolph, who played the hosts of the fictitious "Bronx Beat" talk show, get an eyeful of Elmo's stretched-out head and Maureen's blossoming bosom and milk it for laughs.

"Looks like today's show is brought to you by the number 38 and the letter double D," Poehler noted of Maureen's top, which featured a wide-open neckline that delved down between the Elmo eyes on Maureen's breasts.

Added Rudolph, "Honey, you've exploded -- kaboom! Those are some bazooms!"

Perry's appearance earned a lot of laughs and helped boost ratings up by 15 percent from last year's season opener. No doubt she was happy to get the whole incident off her chest.

Speaking of racy young stars, check out Lindsay Lohan's sister Ali's ads for 6126 clothing.