Apparently there is an issue (maybe it's cleared up now) where your gear would be missing and your toon would be invisible. It's not just lag, as waiting any amount of time does not restore your stuff.
Basically you need to relog a few times (completely close WoW) and it will come back. It took me 5 tries on my hunter, and 2 on my rogue.
If that doesn't work just make sure you have your towel.
Just a heads up for those worrying they may have been hacked.
Edited, Dec 6th 2006 9:16am by TseTsuo