BEST: Penelope Ann Miller looked Old Hollywood glam in a custom made Badgley Mischka sparkling pink halter gown, adding very rare pink diamond Blue Nile ring and a Christian Louboutin clutch.

BEST: Kelly Osbourne dazzled in a dark and stunning Badgley Mischka beaded gown from the Fall 2012 collection, which she paired with frugal Aldo footwear.

BEST: Milla Jovovich dropped jaws the way a movie star should, wearing an impeccably embellished Elie Saab Haute Couture one-shoulder gown. The stunning presenter finished off the look with Jacob & Co. jewelry and an Edie Parker clutch.

BEST: Bernice Bejo looked elegant in a gorgeously beaded, light mint Elie Saab Haute Couture sleeved gown.

BEST: Elie Kemper’s ravishing rust-colored Armani Prive embellished gown perfectly matched her auburn hair. The Bridesmaids star finished the look off with gold Lorraine Schwartz jewels.

BEST: Rose Byrne sparkled in a sequined one-shoulder Vivienne Westwood gown with Chanel fine jewelry and Jimmy Choo heels.

BEST: The Artist star Missi Pyle looked beautiful in a turquoise gown, which was the winning design of the Red Carpet Green Dress. She paired the eco-friendly fashion with Chopard and vintage Chanel jewelry.

BEST: Melissa McCarthy ravished in a rose colored Marina Rinaldi gown, adding a Brian Atwood clutch and heels and Chopard jewelry.

WORST: Shailene Woodley’s Valentino Couture gown was gorgeous, but not on the 20-year-old actress. First of all, she did not seem comfortable in it, and second, it was a tad too matronly for her and would have been better suited for an actress over fifty!

BEST: If it ain’t Baroque! Jessica Chastain really had her “WOW” moment, hitting the carpet in a stunning black and bronze Alexander McQueen, which she finished off with Harry Winston jewels.

BEST: George Clooney in Giorgio Armani definitely had a trophy on his arm! His girlfriend, Stacy Keibler looked like an Oscar in a gorgeous gold-toned Marchesa gown.

BEST: Viola Davis looked extremely regal in an emerald green strapless Vera Wang gown.

BEST: Leslie Mann looked beautiful in a dark blue Roberto Cavalli sequined strapless gown.

BEST: Michelle Williams radiated in a coral colored Louis Vuitton strapless gown, adding Christian Louboutin heels, a Bottega Venetta bag and Forevermark and Fred Leighton jewels.

BEST: Rooney Mara looked angelic in a white lace Givenchy gown, which was both simple and sexy. She finished off the look with a Fred Leighton ring.

BEST: The Help star Octavia Spencer sparkled in a figure-flattering Tadashi Shoji beaded gown, adding Jimmy Choo heels, a Judith Leiber clutch and Neil Lane bling.

WORST: Virginia Madsen looked like a southern socialite at a Texas charity event, wearing a shiny purple one-shouldered gown with her blonde locks in a super messy do.

WACKY: The Dictator, aka Sacha Baron Cohen, who claimed to be wearing John Galliano and Kmart socks, definitely shook things up on the red carpet, spilling ashes all over Ryan Seacrest!

BEST: Tina Fey wore a beautiful custom-made Carolina Herrera gown with Bulgari jewels, Stuart Weitzman heels and a Roger Vivier clutch.

BEST: Emma Stone did not disappoint, rocking a totally dramatic and red hot Giambattista Valli Haute Couture gown with Louis Vuitton jewels. Though many may find the enormous neck bow over-the-top, Emma really took the risk and worked it to perfection.

WORST: Fly Girl or fashion faux pas? Jennifer Lopez looked more Grammys than Oscars in a very sexy and revealing Zuhair Murad gown, getting blinged out to the max with Lorraine Schwartz bling. This work may have looked somewhere else, but the Academy Awards is about glamour, NOT showing off your hot bod.

BEST: Glen Close reigned like the matriarch that she is in an elegant Zac Posen bustier gown off, richly hued in deep green and featuring a matching satin blazer.

BEST: Gwyneth Paltrow donned an elegant white Tom Ford gown with a matching cape that was appropriate considering she wasn’t nominated for any awards. The look was simple and sleek and very understated for the star, who usually likes to get all the attention. She finished it off with Jimmy Choo heels and Anna Hu jewels.

BEST: Natalie Portman ravished in a vintage Dior Haute Couture strapless gown circa Spring 1954 with Dior heels, a Charlotte Olympia bag and Harry Winston jewels. Old Hollywood glam to the max!

BEST: Penelope Cruz looked pretty in a periwinkle Giorgio Armani off the shoulder gown, which she paired with beautiful Chopard jewels.

BEST: Cameron Diaz rocked a flesh-toned, silk Gucci gown to perfection with nearly $1 million of Tiffany & Co. bling, but we weren’t crazy about her hair or makeup.

BEST: Sandra Bullock looked regal in Marchesa, donning a white and black gown embroidered in gold.

BEST: Meryl Streep was a golden girl in Lanvin, pairing her divinely draped gown with a Lanvin clutch, vintage Fred Leighton jewels and Ferragamo heels.

BEST: Angelina Jolie showed some leg in a super slitty, black velvet Atelier Versace strapless gown, drenching herself in over 60 carats and $2.5 million dollars of Neil Lane jewels!

BEST: Kate Mara, Rooney’s big sister, stunned in a feminine Jack Guisso Couture gown paired with Lorraine Schwartz jewels and Brian Atwood heels.

WORST: Anna Faris was definitely shining on the red carpet, but not in a good way! The blonde actress wore a Diane von Furstenberg sleeved gown with YSL heels and Tiffany & Co. bling, resulting in a look that was a little to harsh on the fair haired and skinned actress.

BEST: Giuliana Rancic was the hostess with the a la mode mostess, wearing a stunning Tony Ward Spring 2012 Couture gown with Palladium for Jacob & Co. jewels.