The Australian model rocked the two-piece during a Victoria's Secret photo shoot in Malibu, Calif., on Sunday.
It's hard to believe Kerr, who married Flynn's dad, Orlando Bloom, last July, gave birth on Jan. 6.
But the model's figure shouldn't be too shocking – Kerr, 27, gave us a taste of her progress a few weeks ago when she attended an event in Los Angeles wearing a figure-hugging Hervé Léger by Max Azria zip front dress.