Taraji P. Henson is stunning in a layered, gauzy white gown with a striking diamond choker.

Bolt's Miley Cyrus usually impresses us with her red-carpet savvy, but this scalloped, sparkly outfit is too much for the 16-year-old.

Slumdog Millionaire beauty Freida Pinto wows in a royal blue, one-shouldered stunner.

Don't you just want to hike up this dress an inch or two around the bustline? Best actress nominee Melissa Leo misses the mark with a frumpy copper gown that is too perfect a match for her feathery helmet hair.

Heidi Klum loves red, and for good reason, it looks amazing on her. But the cut and style of this angular, minimalist frock is a bit too Jetsons for our taste.

Wow, Robert Downey, Jr.! We're not sure what you're doing to look so rested, but keep doing it. You look 10 years younger.

A newly brunette Sarah Jessica Parker loves to take risks on the red carpet, but this gown — and her push-up bra — should have stayed in her overflowing closet of free designer duds.

Many a starlet should take note of Natalie Portman — she's perfection from head to toe in this raspberry strapless gown.

Mickey Rourke's wonky, casual ensemble is almost redeemed by a sweet locket he wore on his lapel as tribute to his late pup, Loki. Almost.

Anne Hathaway made a big impression on us with her strapless, beaded white gown that showed off her gorgeous hair and fair skin. Take that, ex-boyfriend!

All the single ladies may love Beyoncé's latest anthem, but they probably shouldn't take any fashion advice from the multi-hyphenate, who wore what appears to be a museum vase.

Best actress nominee Kate Winslet finishes out award season in a stunning, gray and black, one-shouldered gown with lovely beading. But it's her gorgeous, Grace Kelly-style hairstyle that we really love.

We beg of you, Tilda Swinton: If you're going to wear such an unflattering outfit, at least make it in a color that's not so… deathly morbid.

Penelope Cruz can strut her Oscar around in style. Her dress might be a bit full, but it really brings out her glowing olive skin tone and elegant hairdo.

We wish Reese Witherspoon had saved the whimsy for her next Moroccan holiday with Jake. The petite actress took a leap of fashion faith with this bohemian gown, but the fabric engulfed her and left us wondering what her next red-carpet risk will bring.

The only way Philip Seymour Hoffman could get away with wearing a wool cap to cover his greasy hair would be if he was giving up acting for a career as a longshoreman. But he's not. Seriously dude, you had a few months' notice.