2012 Oscars Fashion: Looks We're Loving

Michelle Williams

polled pals for the best way to describe her silk mousseline Louis Vuitton peplum: "They say it's coral," she said of the color. (No argument over the shade of her Bottega Veneta clutch: pink!)

There's nothing like a classic red: Natalie Portman's dotted Dior is from the house's 1954 collection. (Her clutch, however, is totally modern-Charlotte Olympia spring/summer 2012).

A sassy bow at the neck made Emma Stone's Giambattista Valli haute couture gown stand out on the red carpet.

Jessica Chastain

needed no help drawing applause on the red carpet in her bespoke black Alexander McQueen, hand-embroidered with gold bullion.

Stacy Keibler

knew she was golden when she spotted this strapless Marchesa at the label's New York Fashion Week runway show.

Lanvin crafted Meryl Streep's gown from eco fabric that Livia Firth (wife of Oscar winner Colin!) helped source as part of her Green Carpet Challenge. Streep, at her 17th Oscars as a nominee, accessorized with Fred Leighton's-what else?-antique gold pendant earrings.

The seductively cutout sleeves of her Zuhair Murad dress accented the American Idol judge's bronze glow.

Shailene Woodley

went for a sophisticated style in a white Valentino Couture gown.

Delicate beading and sheer panels adorned nominee Berenice Bejo's mint green Elie Saab gown.

In a departure from her signature black, Best Actress nominee Rooney Mara chose a white Givenchy gown with a plunging neckline and cutout back.

Crisp white was the perfect choice for Gwyneth Paltrow's sleek Tom Ford gown and dramatic floor length cape.

Presenter Milla Jovovich took on old Hollywood in a one-shoulder white Elie Saab Couture gown. She punctuated her look with loose waves and a scarlet lip.