Equally exciting as the award ceremony itself, is admiring the fashion choices of the event’s privileged guests. Donning the perfect gown or suit can make you a red carpet star, but failing to impress can land you in the red carpet fashion hall of shame.

Let’s start on a positive note… (photos from omg.yahoo.com):

Sandra Bullock at the 2010 Academy Awards.

Sandra Bullock looked absolutely stunning on the red carpet in a Marchesa dress that deserved to be on stage accepting the Best Actress award.

Penelope Cruz at the 2010 Academy Awards.

Though Penelope Cruz could have showed up in sweat pants and still looked incredible, this Donna Karan gown further solidified her status as red carpet royalty.

Gabourey Sidibe at the 2010 Academy Awards.

Newcomer Gabourey Sidibe has been the talk of the town since her debut in the movie Precious and she continued to draw the spotlight in this Marchesa dress.

Now onto the less positive…

Mariah Carey at the 2010 Academy Awards.

Between the weird draping, flower broach, thigh-high slit, and awkward one shoulder, Mariah Carey and this dress are pretty much a hot mess (please disregard the rhyme).

Charlize Theron at the 2010 Academy Awards.

Charlize Theron’s dress drew a lot of controversy at this year’s Oscars due to the fact that there were flowers on her breasts. I don’t really know about all that, but I do know that the flowers look stupid and her weird up-do is just a continuation of that theme.

Diane Kruger at the 2010 Academy Awards.

I’m typically of the persuasion that Chanel can do no wrong, but this dress with the bizarre inflated, ruffled midsection is simply not acceptable.