[ABOVE: (from Left to Right) Karl Lagerfeld, Anna Wintour, Kimora Lee Simmons, Christian Louboutin, Donatella Versace, and Zac Posen]

The annual Costume Institute Gala is never a casual affair, of course, but more like one of the largest nights of Fashion.. or the "King of Fashion"... kind of a big deal. Stars from all backgrounds flocked the red carpet in their couture dresses. Actors, Singers, Models, Fashion Icons...

"It's a fashion celebration, that's for sure," said model Shalom Harlow, in Viktor & Rolf. "It's a decadent industry and this a decadent night." Indeed. At the top of the museum's imposing stairs sat four peacocks in a giant gilded birdcage surrounded by a hedge of lush red roses. Taking it all in, a wide-eyed America Ferrera said, "I'm as overwhelmed as Betty would be."

The evening's hosts, Vogue's Anna Wintour, Balenciaga's Nicolas Ghesquière, and Cate Blanchett, greeted guests at the end of the red carpet.

The very fancy night included a whole lot of fashion, diner and but of course... a cocktail hour!

"This is one of the best years for the gala," said Vogue's André Leon Talley, in a signature cape, with Renée Zellweger at his side. "It's so relaxed. Everyone is at ease."

Fun Fun!