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A waistcoat or vest (US and Canada) is a sleeveless upper-body garment. It is usually worn over a dress shirt and necktie and below a coat as a part of most men’s formal wear. It is also sported as the third piece in the traditional three-piece male suit.

A waistcoat has a full vertical opening in the front, which fastens with buttons or snaps. Both single-breasted and double-breasted waistcoats exist, regardless of the formality of dress, but single-breasted ones are more common. In a three piece suit, the cloth used matches the jacket and trousers. Waistcoats can also have lapels or revers depending on the style.Before wristwatches became popular, gentlemen kept their pocket watches in the front waistcoat pocket, with the watch on a watch chain threaded through a buttonhole. Sometimes an extra hole was made in line with the pockets for this use. A bar on the end of the chain held it in place to catch the chain if it were dropped or pulled.

Wearing a belt with a waistcoat, and indeed any suit, is not traditional. To give a more comfortable hang to the trousers, the waistcoat instead covers a pair of braces underneath it.A custom still sometimes practised is to leave the bottom button undone. Several explanations are popularly given for the origin of this practice. One often-cited one claims that the custom was started by King Edward VII (then the Prince of Wales), whose expanding waistline required it.[5] Variations on this include that he forgot to fasten the lower button when dressing and this was copied.

It has also been suggested that the practice originated to prevent the waistcoat riding up when on horseback. Undoing the bottom button avoids stress to the bottom button when sitting down; when it is fastened, the bottom of the waistcoat pulls sideways causing wrinkling and bulging, since modern waistcoats are cut lower than old ones. This convention only applies to single-breasted day waistcoats and not double breasted, evening, straight-hem or livery waistcoats that are all fully buttoned.

The waistcoats worn with white- and black- tie are different from standard daytime single-breasted waistcoats, being much lower in cut (with three buttons or four buttons, where all are fastened). The much larger expanse of shirt compared to a daytime waistcoat allows more variety of form, with “U” or “V” shapes possible, and there is large choice of outlines for the tips, ranging from pointed to flat or rounded. The colour normally matches the tie, so only black barathea wool, grosgrain or satin and white marcella, grosgrain or satin are worn, although white waistcoats used to be worn with black tie in early forms of the dress.

Waiters, sometimes also waitresses, and other people working at white-tie events, to distinguish themselves from guests, sometimes wear gray tie, which consists of the dress coat of white tie with the black waistcoat and tie of black tie.