We knew they photoshopped the hell out of her but this is a little much.
On the cover they flat out removed it, and no it's not below her high-waisted undies. If you watch the behind the scenes video, around the 1:38 mark you'll see the belly button was just peaking over the top of them.
Later on in the spread, while Linds is playing with her bow and arrow on the beach, it magically reappears — just not where it should be! They decided to awkwardly and randomly reposition it right below her ribcage.
Who even has a belly button that high!?
[Images courtesy of German GQ.]