The Naked Cowboy of Times Square says he's dropping out of the race for mayor of New York City.

Robert Burck is a tourist attraction known for strumming his guitar in the square while wearing only white briefs, boots and a cowboy hat.

He entered the mayoral race in July with the slogan, "Nobody has done more with less."

But now he says he's had enough of the red tape that goes with a mayoral run.

He says the last straw came when the city's Conflicts of Interest Board fined him $250 for failing to file a required financial disclosure form.

Burck says the only way to be taken seriously is to appear in a suit and tie.