PAMELA ANDERSON doesn't care if you think she's dumb. "It's great having nothing to live up to, because you can't fail," she says, while discussing her latest career moves: the launch of a perfume called Malibu and an eco-friendly clothing line called A*Muse. Yes, Anderson, 42, has built a career on blondness and bouncy boobs. And yes, it all began with a lucky break: When she wore a tight T-shirt with a Labatt beer logo to a football game in her native Canada, the JumboTron flashed her face, the crowd roared, and suddenly she had a job as a Labatt model. But she managed to spin that gig into a 20-year career. Here's how.

Q: What do you think of the phrase "Fake it till you make it"?

A: I haven't followed that rule at all. People always tell me, "Reinvent yourself, re-this, re-whatever." I haven't reinvented myself. It's an honest evolution. I've always been authentic. Except for the boobs.

Q: What's your biggest failure?

A: I've had lots of things that didn't work out, like TV shows. You learn a lot through mistakes — I learned that you have to be the captain of your ship. Actually, I own my ship.

Q: How do you manage two kids?

A: I'm never away from my boys for more than three days. You can do it all. Trust me. But I'm insane.

Q: Your best career advice?

A: I'm known for my handwritten notes. Sometimes I get little letters from Hefner. He'll say, "I'm so proud of you." A note from Hef, it means a lot.

What Do You Think?