Abstract: To use a loose-fitting condom, a penis or prosthesis is covered loosely with a condom having a loose-fitting portion. The loose-fitting portion is twisted so that the loose-fitting portion closely covers the penis or prosthesis. The loose-fitting portion is then secured in the twisted state. An external penile prosthesis is provided, which includes a generally tubular body portion and a head portion. The head portion can be rotatable about the central axis of the body portion or include a plurality of flaps swingably attached to the body portion for adjusting an opening between the flaps. Further provided is a combination of the prosthesis and a loose-fitting condom. The condom has a flexible sheath which has a loose-fitting portion sized for loosely covering a penis or the prosthesis. The combination may further include a holder for holding the loose-fitting condom in a twisted position.