It's the Chicago Stags logo on the shorts. The first Chicago NBA team from the 50's, they folded after drafting Bob Cousey.
I was thinking the same thing when I saw the game today, but couldn't find any pictures. These Bulls jersey's are ever worse than the Packers jerseys that looked like giant lightbulbs.
(Sorry, can't find a good picture, I guess the back of every Brett Favre card that year pictured these horrid things.)