It's snapped back.
Yes, the girdle has returned, but now it's called a "shaper." You've seen them all over television and the tabloids--various sorts of elasticized fabric undergarments that supposedly reduce you by two sizes. Even plastic surgeon Robert Rey is hawking them.
First there were corsets, then there were girdles; then, in the '60s, we tossed our girdles into the fire with our bras and let our fat flab free. The bras were sheepishly retrieved within the decade, but the girdles remained in the ash bin till just this year. (Probably some kind of space technology development.)
Myself? Call me retro, but the last thing I want to do on a hot summer day is encase myself in a skin-tight sausage wrapping.