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The Metropolitan Museum of Art’s annual Costume Institute Gala is often called the Oscars of the East Coast, and it’s easy to see why—the red carpet looks are just as breathtaking! Designers and celebrities climbed the steps of the Upper East Side museum last night to celebrate the opening of its new style exhibit featuring the work of two Italian fashion greats—Miuccia Prada and Elsa Schiaparelli. In turn, many of Prada’s biggest fans showed up wearing pieces by (and in honor of) the designer, including Gwyneth Paltrow, Eva Mendes, Kate Bosworth, and Diane Kruger, shown above. Click through the gallery for celebrity photos and fashion credits from the 2012 Met Gala! The exhibit, Schiaparelli and Prada: Impossible Conversations, will be open to the public May 10th through August 19th; visit metmuseum.org for more information.

Our favorite outfits of the week—pulled from our Look of the Day top picks—are all about sleeveless cuts and serious embellishments. Our top picks: Diane Kruger in an embroidered Jason Wu design, Olivia Palermo in a plunging Tibi peplum gown, Jennifer Lawrence in a forest green Calvin Klein number, Claire Danes in a mixed print Giambattista Valli top and skirt, and Katharine McPhee in a turquoise boatneck Michael Kors dress. Which one is your favorite? Vote in the poll below and let us know! More

Our favorite outfits of the week—pulled from our Look of the Day section—offer pops of pinks and sequin standouts. Our top picks: Solange Knowles in Vera Wang, Viola Davis in Juan Carlos Obando, Sarah Jessica Parker in Theyskens’ Theory and Oscar de la Renta, Katharine McPhee in Valentino, and Diane Kruger in Giambattista Valli. Which one is your favorite? Vote in the poll below and let us know!  More

Our favorite outfits of the week—pulled from our Look of the Day top picks—are all about ladylike silhouettes and luxe fabrics. The top five: Emmy Rossum‘s knee-length tweed Carolina Herrera sheath, Cameron Diaz‘s retro polka dot Christian Dior design, Kate Bosworth‘s sexy backless embroidered Antonio Berardi dress, Jessica Chastain‘s orange and black Armani Prive look, and Diane Kruger‘s lace peek-a-boo Erdem gown. Which one is your favorite? Vote in the poll below and let us know!