I've heard of it before, several times and knew it was something actually pretty common. It doesn't really bother me that it exists, I think all kinds of plastic surgery should be available to people for whatever reason. I wouldn't compare it to mutilation, as it doesn't have the same purpose or reason and isn't nearly as brutal and extreme. I know a lot of people find all plastic surgery unnatural, but if it makes people happier or more comfortable, they are free to do it if that is what they want. Just my opinion.
Though one thing that disturbed me in that article was that they mention 12 year old girls wanting this. What?
Your body is not finished at that age, and you are often a lot more insecure about yourself than you really should be. And also, you shouldn't be showing that part of yourself at that age anyway, so it shouldn't be a problem. Any plastic surgery at such a young age should only be necessary if something is actually wrong, or something has happened, like and accident/injury. You shouldn't have to worry about intimate surgery just to look okay down there when you're 12. Then I think doctors, parents, councellors should be offering another kind of help/support.