Gabriella Papadakis was competing with her partner Guillaume Cizeron at the competition in Pyeongchang when her glittering green costume became unhooked at the neckline.
During the final element of the routine, Papadakis' chest became exposed on live television.
The 22-year-old from France said: "I felt it right away and I prayed; that's about what I could do."
Papadakis and Cizeron persevered through the routine and secured a score of 81.93, which put them in second place - behind Canadian competitors Tessa Virtue and Scott Moir.
The skater appeared to be almost in tears as she approached reporters after the routine but was more cheerful later, once she no doubt released her medal hopes remained intact.
She said: "It was pretty distracting, kind of my worst nightmare happening at the Olympics.
"I told myself, 'I don't have a choice. I have to keep going', and that's what we did.
"I think we can be proud of ourselves being able to deliver a great performance with that happening."
It is unclear whether the judges marked the couple down for the wardrobe issue. The regulations state losing any part of a costume can warrant a one-point deduction.
Cizeron added: "It's a little bit frustrating to know that it's not because of something that we did.
"It's just a costume issue, something as stupid as that, so it's a little bit disappointing."
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