The ad, created by Iris, is more than 20ft wide and is close to the look of Wonderbra's renowned 1990s "Hello boys" campaign created by TBWA and featuring supermodel Eva Herzigova.
Passers-by will need special glasses to fully appreciate the 3D ad featuring Brazilian model Sabraine Banado.
The new ad promotes Wonderbra's new £28 Full Effect bra, which is designed to make breasts appear two sizes bigger.
Iris currently works with Wonderbra UK on a project basis. The brand, owned by DB Apparel, appointed BBH to handle its pan-European ad account last month in a bid to recapture its "Hello boys" glory days.
Iris has also created a competition for women who can win the opportunity to be a fashion journalist, a fashion stylist and a fashion buyer for a week.
The competition is being promoted using Facebook and Twitter to drive people to the website Wonderbrafulleffect.co.uk.