Best & Worst Dressed at the 2012 Oscars

Hollywood's elite brought out their most spectacular dresses for the biggest red carpet night of the year. See who sizzled and who fizzled at the 2012 Oscars.
Actress Penelope Cruz arrives at the 84th Annual Academy Awards held at the Hollywood & Highland Center on February 26, 2012 in Hollywood, California.
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Penelope Cruz in Armani Privé
Penelope Cruz brought real romance to the Hollywood & Highland center in a flowing periwinkle creation by Armani Privé. Cruz added classic Grace Kelly polish to her ensemble with diamond jewels and shiny 1950s-inspired curls.
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