Passe Pashmina

Now that newspapers nationwide are advertising them at ''Amazing Prices,'' it's official: The once ever-so-trendy pashminas are way out. But what to do with the luxurious wraps made of the wool from a goat's underbelly? We posed the question to a couple of fun fashion designers. Cynthia Rowley — fan of all things whimsical and colorful — thinks the sensuous shawls would be put to good use where the sun don't shine: ''Have them made into pairs of underwear. They'd be nice and soft,'' she advises. ''Or use them as baby blankets.'' Todd Oldham, known for his activism on behalf of animal rights, wasn't so warm and fuzzy about the pashmina predicament: ''The first thing someone should do is never admit that they have one,'' he sniffs. ''And if they do have one, use it as a beach towel.''