This comes from my wonderful friend Karen Van Houten. It was posted on the Q & A thread, and I thought it would be a great contribution here, so I've copied and pasted what she said below. Before you try it, you may find a tip about placing graphics using the I.E. method useful. Find tip here.
MAKING TIGHTS or NYLONS:
Let's say you've made a light blue dress and want to make tights or nylons to match. Try one of these two ways:
1. Solid Color tights: Choose the pants that are skin-tight.(choose the waiste hight you think would go well behind the dress) Simply make the pants the same color as your dress, and if you wish, decorate it with graphics that match well.
2. Nylons that have a 'hue' of the dress: First start with the same skin-tight pants. Make them the same color as your dress. BUT, then go to graphics and choose the solid colored circle and make it the same color as your model's skin. Take that circle and color over the top of your dress-colored tights. It will have the skin color but will have a 'hue' of the color around the edges like real nylons would have. You can leave it this way or decorate with tiny graphics to make it fancy.
Your tights/nylons will not have the feet in them, so plan on putting a boot or high-top shoe on.