The Academy Awards red carpet can be an adventurous fashion scene. Who can forget Bjork’s swan gown, Gwyneth Paltrow’s sheer Alexander McQueen look, Faith Hill’s rainbow-bright Versace dress, and Cher’s showgirl Bob Mackie costume? We've rounded up these and more of the most outrageous Oscar looks of all time—click through the gallery to see them all. Then, check InStyle.com on Oscars night for all of your up-to-the-minute fashion coverage for the 2012 show!
Mirek Towski/FilmMagic; Lionel Hahn/ABACA; Ron Galella/WireImage; Eugene Adebari/Rex