I adore waist coats and own 2 pieces, one in ash grey and the other in black with silver buttons. I am of a curvy shape at 5.6 ft and well endowed on top. Now I'd like to wear the waist coats without drawing too much attention to my bust but not sure whether to wear them on top of a shirt or tshirt. And whether to pair them with pants or a skirt. Help!!
Waistcoat eh'? Those can be difficult to rock without emphasizing your bust however not impossible. Here is what I would do... I would concentrate on making a long fluid line that draws the eye up and down instead of across. How to do this? A high neck blouse that ties at the neck and hangs down to make a nice vertical line OR you could try a draped jersey top that is gathered at the neck.
On the bottom a pair of nice trousers with a flare or an overall wide leg (like these by Jean Paul Gaultier) would look nice- just make sure you wear some high heels so you don't look short and stumpy.
Here is an idea of the silhouette you need to mimic before as a base for you waistcoat outfit if you have a large bust. **NOTE- I am not saying this is the outfit to wear it with, but this is the shape to shoot for with the wide leg and high neck.