I have a book "From Darkness to Light" written by a Catholic nun, Anne Field, O.S.B., about how the early Church catechized new converts. The author uses ancient catechetical writings from the early Fathers (including John Chrysostom, Cyril of Jerusalem, Cyprian, Didymus, Ambrose & Augustine) and takes us through, as if the reader is a catechumen being taught by the Bishop. This is what the Bishop teaches regarding the "stripping and anointing" that takes place before Baptism:
"Yesterday I explained the initial sealing with holy oil which marks you out as a soldier of Jesus Christ. In the next step of the rite, you strip completely. This is a sign that you are now putting off your old nature with its sinful practices (Col. 3:9). You are also imitating Jesus as He hung naked on the Cross, where He disarmed the principalities and powers of darkness, publicly triumphing over them (Col.2:15).
"In addition to this symbolism, the clothing you take off also represents your mortality, since Adam and Eve were originally naked and ashamed, and only needed clothes after they had become mortal through disobedience. You present yourself for baptism in order to be born again to immortal life, and so you remove your clothes. When you have done this, you will be anointed with oil from head to foot, as athletes of Christ preparing to enter the spiritual arena, or as soldiers receiving spiritual armor against the enemy's weapons. (snip)
"So then, the deacon or deaconess takes you by the hand and leads you down into the water . . . (description of the sacrament of baptism)."