It’s apparently a Japanese take on American cable cartoons. According to Amazon.com:
The Anarchy sisters, Panty and Stocking, are angels who were kicked out of Heaven due to bad behavior. They are sent to Daten City, a place located on the edge of Heaven and Hell, where creatures called “Ghosts” have run wild — feeding on human desire. Under the watchful eye of Reverend Garterbelt, it’s up to Panty and Stocking to destroy these Ghosts, in order to collect enough Heaven Coins to return to paradise. Only the Anarchy sisters can save humanity from these monsters and when they’re not bickering with each other, they’re unstoppable.
13 episodes come out on DVD July 10th. For those curious about seeing the actual show before it comes out on DVD, you can watch a few episodes on FUNimation’s official site.