Penelope Cruz at Oscars 2012

Oscars: Penelope Cruz

The ever-gorgeous Penelope Cruz channeled a modern-day princess vibe in this custom Giorgio Armani periwinkle organza gown. The combination of the gauzy off-the-shoulder straps, fitted bodice, floor-skimming full skirt, and Marilyn Monroe coif emphasized Penelope's flawless execution of ultra-feminine glam. Her solitaire diamond necklace, diamond bracelet, flower-shaped diamond earrings, all from Chopard, and a satin clutch were regal add-ons, fit for red carpet royalty, of course. Are you digging Penelope's princess gown?

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Source: WireImage, Getty
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