If you are outside the US, then it is LOL! Otherwise people here think nothing of it. That's why I have transitioned to calling them belt bags (a much better name), and am trying to get my kids in the habit of doing the same, so as not to embarrass themselves in the future when traveling or talking to overseas relatives .
RayFI missed that one -- too little time for movies! I just looked at a clip of the scene. The embarrassment I referred to would not be from wearing something that might look like it's from the 90's, but from using the term "fanny" to describe it. The term has a somewhat different meaning outside the US (not sure about Canada) . . .