A recent discussion with a co-worker, has lead us to this question:
The co-worker being a previous water polo player, told us that he and
his teammates would wear 8-9 pairs of Speedo swim suits for one game. 
Our question is A)  Is this common practice?  B)  How long does it
take to disolve a pair of Speedo swim suits in chlorinated water?

It is not uncommon for multiple swimsuits to be worn by water polo
players. It can be a rough sport, with players tearing at each other's
swimsuits, so the suits are often damaged.

"Many guys choose to wear multiple pairs of speedos because suits do
sometimes get ripped."

USA Water Polo Bulletin Board
http://www.usawaterpolo.com/ubb/Forum1/HTML/000967.html 

The typical Lycra or Spandex swimsuit will last about 60 to 100 hours
in a chlorinated pool:

"The general rule of thumb is that if you're using the suit in
chlorinated water, you should get about 60 hours out of it. At that
point, the chlorine will likely have striped the fabric of its
structure and it will collapse - the fabric will seem to give way,
particularly in the butt area."

Waterline Sports: Bathing Suits and Accessories
http://divemar.com/waterline/docs/faq_bsuits.html 

"A pro swim shop around here says that a swimsuit (with proper care)
should last you 100 pool hours. Not 100 wearing hours, but actual pool
hours."

Cycling Forums: Care of Speedo Solid Racer Suit
http://www.cyclingforums.com/archive/index.php/t-45982

"Most suits have combinations of Nylon and stretch materials. A
swimsuit with over 15% elastic is usually more expensive but on
average will only hold up about three months when worn in chlorinated
water for an hour three or more times a week. The elastic then
deteriorates causing the Nylon threads to sag. Because part of the
material is gone what's left is so thin you can see through it. I've
found that 12% elastic is a good proportion and on average will last
six to nine months under the above conditions."

The Water-Shy Swimmer: Getting Started
http://members.aol.com/wtrshy/Ch1.html

Speedo has developed a new line of swimwear called "Endurance" that is
more durable in chlorinated water:

"Speedo Endurance swimwear... 

The brochure says 'Lasts at least 20 times longer than conventional
swimwear with improved fit and comfort with a softer feel and superior
shape retention.'

Deborah says 'I?ve had mine for 1000 hours in the water and it?s still
going strong!"

SOS School of Swimming: Speedo
http://www.sos-swim.co.uk/html/body_the-shop.html

Google search strategy:

Google Web Search: "water polo" multiple suits
://www.google.com/search?hl=en&ie=UTF-8&q=%22water+polo%22+multiple+suits

Google Web Search: suit hours "in chlorinated water"
://www.google.com/search?hl=en&ie=UTF-8&q=suit+hours+%22in+chlorinated+water%22

I hope this information is helpful. If anything is unclear or
incomplete, or if a link doesn't work for you, please request
clarification; I'll be glad to offer further assistance before you
rate my answer.

Best regards,
pinkfreud

As a water polo player for four years I can help answer your question
about H20 Polo players wearing multiple suits.  One of the most
important aspects about water polo is what goes on under the water is
rarely ever caught by the referee.  Much like in other sports, you can
pretty much do whatever you want if the referee doesn't see it.  So
one of the very common occurences is the yanking and twisting of other
player's suits either to provide discomfort to the opposing player or
provide discomfort.  Players also pull the suits of other players to
get a headstart swimming to the opposite end of the pool when
possession changes.  Having said all this, suits tend to rip pretty
easily because of the thin material that they are made out of and
having multiple suits protects you from walking out of the pool
bare-assed.