The rapper hit the town Saturday in Beverly Hills with some pals in tow -- and she was wearing quite the eye-popping outfit ... and that's because her greatest assets were on display in a very sheer dress that you could see right through, right down to the skin.

Don't worry, her top half is actually covered by some nipple pasties -- so, technically, no harm, no foul there ... but she was definitely pushing the envelope and getting risqué.

Even from the side and behind ... she was quite the sight for sore eyes, and her friend seemed to recognize that too, offering a little handsy support as they boarded a waiting SUV.

Indeed, MTS was flaunting her stuff and then some ... which we suppose telegraphs how she might be feeling in the wake of this ugly saga that just ended with her one-time friend/lover being sentenced to a decade behind bars. Remember, Meg wasn't there for the hearing.

While she skipped the in-person appearance, Megan did speak out in a victim's statement -- saying she still suffers trauma from the shooting incident and urged the judge to hand down a stiff punishment ... which ultimately happened. Tory, meanwhile, has said he refuses to apologize or show remorse, insisting he was convicted for something he didn't do.

Meg performed at Outside Lands in SF shortly after the sentencing, and she said "F*** all my haters" during her show, which is really the only direct messaging from her post-sentencing.

With this latest showing though -- the first time she's been out like this since Tory's fate was decided -- it's safe to say Meg's unfazed. No love lost here, and certainly no regrets either.