Hair around the nipples is very common indeed. For some reason it appears that the area around the nipples is very susceptible to testosterone stimulation.

PCOS causes high levels of testosterone -- many sufferers have testosterone levels in the male range and one of the results is facial hair in the male pattern. It's not unusual for PCOS sufferers to have to shave daily.

Yeah I have a little bit of hair on my breasts and a snails trail from my belly button. I think its just part of the lovely package that comes with facial hair.