Possibly the tamest any of the Final Fantasy heroes has been dressed, ever; they gave him two belts just so he wouldn't be wearing 'Black denim pants and a fur-lined jacket'.
Well they make sense if you think about it. His Gunblade doesn't have a traditional sheath and if it did it'd be way to bothersome to be of any good, but he can hook the Gunblade in between his belts and it holds pretty well.
I've got that newer figure of Squall put it to the test it fits and holds pretty good.
Also, given that the (naked chibi) male is Laguna, I'd say that the (naked chibi) female is actually Raine, NOT Rinoa. But, the hair is more like Rinoa's... so anyone have actual artist input on that?
No artist input here, but look at Laguna. He's got shorter hair, which I'm guessing implies that this takes place during Squall's time, when Laguna was older. Raine was dead by then, so I really think it's Rinoa. The chocolate highlights are pretty much her main facial characteristic, too.