Depends how detailed the subject is and the situation he is in. If they're in a "modern" society, the true definition of anthropomorphism of behaving exactly like humans, then the lack of clothing would be inappropriate and the humors that are involved with such a situation should one find themselves naked would play out normally.
Dial back a bit and you get the Looney Toons versions, no clothing, but Barbie Doll anatomy. No visible privates, yet clothing or lack thereof is ignored. Strip away the fur, though, and you get "naked humor."
Dial even further and you get the "tribal" sort, getting sort of bipedal versions of ferals. Loincloths are commonly seen, because if removed then privates will DEFINITELY be visible. We commonly see artwork from KenKet that fits this category.