If I had to choose from these two, I probably would take the breechclout, preferably with one end tied to the suspender.
But since I actually wear loincloths on a daily base ...
Usually, I wear a front-flap tied one, but I also do a bahag-style tying. It usually depends on the length of the strip.
Sometimes, I go for a small bit of extravaganza and do something with two front flaps.