[description: rear view of a man's torso in thong underwear, with insufficient containment]
The trouble with thongs - or, more accurately, the trouble with men wearing women's thongs - is that they don't hold your "stuff" in place. Now, you could argue that this is a bonus - and, hey, it might be sexy - but the situations where this sort of arrangement is practical are exceedingly rare. My perspective is that if there's no problem with your stuff hanging out, then why are you wearing a thong in the first place? You might as well go full monty!
Chances are, if you're wearing a thong, it's because you want a sexy pair of underwear that nevertheless keeps you "legal" and contained. Maybe it's to go under a skirt and contribute to the feeling of being as bare as possible, while still being dressed. Maybe it's to go under a dress and reduce visible panty lines. In any case, it's helpful to keep the equipment in line, and from swinging about freely, while also reducing the embarrassing need to constantly adjust yourself in public.
All of these are reasons why women's thongs are just not practical for men. But that's not to say that there are no good reasons for wearing them. While there do exist thongs for men that are designed for better containment, they are not always an ideal solution. For one thing, they tend to be far more difficult to find in stores, compared to the women's variety. And the ones you do find are almost exclusively designed with men's "tastes" in mind. Sure, you can find men's thongs in leopard prints and whatnot, but those are just generically sexy. Good luck finding a pink one with a heart print.
The truth is, for those of us men who like thongs because they are more feminine, it can be practically impossible to find a style designed for men, but with pretty, feminine colors and patterns. Also, since men have more to contain, it's harder to find the skimpier (and, thus - in the opinions of some - sexier) styles of thongs - t-backs, g-strings, and the like. All of these things may be available at niche boutique stores that can be found online (carrying a multitude of erotic inventory), but they can tend to cost you a lot of money (especially when factoring in shipping), and lack the convenience of simply being able to pick some up while you're at the store.
None of these obstacles, however, should stop you from seeking out and wearing thongs - whether they are designed for men or women, bought at the store or online - if you happen to like wearing thongs, or are curious and have yet to try one out. Certainly, thongs can be an acquired taste for some, and they do unfortunately carry a certain level of stigma (but don't let anyone make you feel bad about yourself just because you want to look or feel sexy!). Some people think they are extremely uncomfortable, while others find them the most comfortable kind of underwear in existence - it's just a matter of taste. Don't be afraid to discover your own. :-)