As long as the costume is appropriate for the situation and you have the body to rock it, have fun! I have to admit that I've just straight up dressed as "a slut" before, cutting the pretense down.
This year, I'm being elaborate and really planning it out. I have a friend who used to dress as a "dead hooker", but people would just call her a vampire. So I'm borrowing her idea and building on it: Jack the Ripper Victim!
I've probably spent upwards of $200 building this costume, but it'll be worth it and the pieces can be used again and again. I decided to make it a flashy, burlesque-y getup, all black and red: corset, ruffled skirt, solid red lacy underskirt, red bloomers with lace on the hems, ruffled shorts underneath, a good 6-strap garter belt, white stockings with "blood splotches", red industrial net stockings, satin gloves, black chemise, and a cute little hat. A friend is making a velvet cloak with a red felt lining for me, and it will be marvelously warm.