I have a love hate relationship with my vaginal lips. They feel great sexually, but I have a visible bulge from my inner lips when wearing swimsuits and tight-fitting clothing. I have also considered vaginal bleaching and bleaching my anus as I have darker skin in those areas. I have heard from my beautician that it is the in-thing to do, but I have not yet had the courage to go through with it.
Recently, cosmetic treatments for the nether regions have been gaining popularity, including anal bleaching which temporarily lightens the area around the anus, and vaginal lightening creams which are becoming increasingly commercially available.
Vaginal bleaching / lightening is one of the newer treatments on the market, and while I do not personally encourage it, it is a matter of personal choice. If you do go through with it, I encourage you to make sure that you get it done by an experienced professional.