Papadakis, 22, was competing with partner Guillaume Cizeron during the qualifying stage of the short program in the early hours of Monday morning.
The pair are renowned as two of the best dancers on the planet but their path to Pyeongchang glory took a turn when Papadakis' costume came undone.
Dancer suffers NIP SLIP Complete Nip Slip Video (Clear not Blur)
The hook on her green-and-yellow outfit slipped off, causing it to fall down and her nipple to pop out.
But with the routine in mid-flow, Papadakis kept her cool, reattached the hook before continuing and finishing second with a score of 81.93.
The incident unfolded in pictures broadcast on live television across the world with slow-motion replays reportedly played in the arena.