Labia Minora is analogous to Male Foreskin (both are made up of the same type of tissue and serve the same protective/sexual purpose). Here is a pic down below of a woman who stretched her "foreskin" (labia minora) out long too like the guy above did his.
Here is the pic:
http://h6img.com/p/1/labia-stretching.jpg
As a matter of fact her "foreskin" is longer than his! lol
Both male and female foreskin/labia-minora are genital skin so therefore more genital skin on men & women the merrier! Who cares what it looks like, more skin feels so much better than less skin! lol
Skin of any type will grow out as long as you want it to be with constant tension placed on the skin. New cells will grow to relieve the tension resulting in new permanently grown skin!
If you're missing your foreskin you can always re-cover your glans by re-growing a new foreskin and regain an enormous amount of sensitivity!
For more information Google: Non-Surgical Foreskin Restoration