If you look at some of the artworks of Tom of Finland (which highly influences homosexual art/culture/pornography circles), you see a clear fetishization of the male body in the images. Penises are oversized, for example.
Similarly, drawn women in pornographic imagery tend to have over-large breasts and extremely small waists.
With the advent of both the ability to photoshop and do plastic surgery, women with these more fetishized proportions have come to the fore as the standard of pornographic beauty.
That being said, there is also a movement away from this (i don't know if Playboy is doing it, though) -- and a response via groups like the Suicide Girls and the like.
So, in all reality, many media images of women all around are simply not good indicators of beauty, attractiveness, or health. But, we all do fetishize each other. And, what we fetishize varies person to person.
What we fetishize culturally is largely dictated by who controls what media at what time.