Like most of us, life got a bit crazy for me, but I'm going to make a concerted effort to finish this story.
*****
Recap: I had just been masturbated to the biggest orgasm of my young life and now Miss Victoria sat across from me, deep in thought as she contemplated my punishment for my earlier transgression. The crime in question - not greeting her properly earlier in the day.
"Jimmy", she began, "you need to be punished, but I'm going to take your confession into consideration. At first I thought a spanking would be in order, but I think a little torture and humiliation may be a better alternative."
"T-t-t-torture, ma'am?" I asked in fear. Holy shit, I wasn't sure about this. I could feel my balls trying to crawl back up into my body as I began to imagine the worst.
Vicki began to laugh at the look of terror on my face. "Relax baby. There are lots of ways to torture someone that don't involve pain. However, sometimes a little pain can be fun too."
"So, my cute little boy, here is what is going to happen." As she spoke she reached down, picked up her panties and began to rub them all over her very wet pussy. "You are going to wear my panties for the next two days. All day, every day. You can only take them off to shower. You are going to smell me on them, and when you do I want you to think about how important it is to please me, and as always, no masturbation. I don't care how hard you get or how often. I don't care if your balls ache. No orgasms until I say so. Is that clear?"
"Yes ma'am."
"I also don't care if someone sees you in them." Oh crap! I hadn't thought about that! "You'll have to make up some story, I'm sure, but that's your issue, not mine." With that, she held out her hand with the now very wet panties in them. "Here, put them on, panty boy."
I took them from her, stood up and slowly pulled on her panties. The string of her thong nestled into my ass crack, and the panty front did a poor job of covering my cock and balls.
"Oh my," Vicki exclaimed. "You look adorable in panties. Turn around baby, let me see that cute little ass in my thong." I blushed deeply and slowly turned around. "Stop", she commanded. "Now bend over and present that ass to me." I bent over and felt Vicki pry my ass cheeks apart. "Damn, I love how that thong goes right against your cute little pucker." One of her fingers slowly worked down my ass crack and began to trace lazy circles around my asshole while the other hand reached between my legs and cupped my balls. My cock was instantly hard.
"Stand up and turn back around baby," she commanded. As I did, it was plain to see that I was going to have serious problems keeping my cock contained over the next couple of days. Half of my cock was exposed and most of my balls were pushing out of the side of her thong. "Oh my" Vicki said with a chuckle. It looks like someone likes being a panty boy."
"N, n, no ma'am," I stammered. "I'm not a... " Vicki put a finger against my lips to stop me.
"Shush Jimmy. Face the facts. You are standing in front of a naked woman, wearing her wet panties and your cock is as hard as I've ever seen it. Your mind may be fighting the idea that you may like wearing my panties, but your cock says otherwise."
"And before you get all worried, no this doesn't mean you're gay or anything else. It just means that you're a little kinky. And remember... ..I like kinky. Now for the next couple of days, you are going to be my panty boy. Is that clear?"
"Yes ma'am."
"So, what are you?"
I blushed deeply and in a voice slightly above a whisper I responded "I'm your panty boy Miss Victoria."
"Good boy, Jimmy. Now play time is over. You need to get dressed and go back to your dorm."