Is it a game? Is it adult-themed? Is it nonsensical? It's certainly a piece of interesting shareware history.
It's Underwear Girl, a dressup game with no endgame other than your own desires.
Speaking of which, the secret code is "axolotl"
Here's a writeup by the author, who gives his blessing to his software being memorialized here!
(806.18 KiB / 825.53 KB)
/ compressed w/ Stuffit
(934.25 KiB / 956.67 KB)
Underwear girl - dsk - sit . Password in READ ME file / compressed w/ Stuffit
(870.45 KiB / 891.34 KB)
Underwear girl - dsk - zip. Password in READ ME file / DSK image, zipped
Emulating this? It should run fine under: Basilisk II