Normally referring to a tear in pantyhose, the term 'Ladder in your/my tights' refers to a boner that is concealed in your trousers, and often is fighting for the open air. The actual name is made apparent if one were to wear a pair of tights, and their erection would appear as a Ladder, either being stuffed up the waist, or down one of the trouser legs.
"Hey man, so yesterday I was on train, standing up, and I got a ladder in my tights and everyone could see my boner"
"Shit dude, anyone say anything about it?"
"Yeah, an old lady said she had one as well"
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