I hate them on women. I think the picture speaks for itself on men.
When I was young, long long ago, these were called 'clamdiggers'. Which had a function, your pants did not get muddy if you were clamming barefoot in the mud.
Except for this rare exception for function over form, there is something that just drives me nuts about them. Like the poor kids who outgrew clothes and still had to wear them.