CAMERON DIAZ kept it simple but stunning at the 2012 Oscar Awards in a nude Gucci Première gown, which clung to her body nicely and emphasized her svelte figure beautifully.

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Cameron Diaz joined “American Idol” judge Jennifer Lopez—who made celebrity news headlines after something that looked very much like a bit of nipple was spotted peeking out of her dress—on stage on Sunday to present the awards for “Best Costume Design” and “Best Makeup” at the Academy Awards.

JENNIFER LOPEZ apparently just laughed off the controversy surrounding her now trending Oscar nip slip at the 2012 Academy Awards Sunday night held at the Kodak Theater in Los Angeles.

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According to J.Lo’s personal stylists, Rob Zangardi and Mariel Haenn, the singer-actress simply laughed off the speculations of her areola making a surprise appearance due to her dress’s plunging neckline in front of thousands on the stage of the Academy Awards ceremony while presenting an award alongside Cameron Diaz.

GWYNETH PALTROW turned heads as she sashayed on the red carpet in a highly sophisticated Tom Ford dress and cape ensemble at the 2012 Oscars last Sunday.

Check it out:

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While many other Oscar attendees arrived in attention-grabbing dresses and bright summery hues, Gwyneth chose to walk the red carpet in a safe one-shoulder white gown with a matching floor-length cape. The actress was spotted catching up with fellow best dressed Penelope Cruz on the carpet and later on presented the award for Best Documentary Feature (that went to “Undefeated”) alongside “Iron Man” co-star Robert Downey Jr.

PENELOPE CRUZ glistened like a modern-day princess in a custom periwinkle Armani Privé Gown at last night’s Academy Awards red carpet event at the Hollywood & Highland Center in LA.

You be the judge:

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The Spanish “Vanilla Star” actress donned only one of Giorgo Armani‘s evening gowns that were showcased on the red carpet that night, with hers having a shade of blue with off-shoulder straps and a train made expressly for her. Penelope, who won an Oscar herself for her role in Vicky Cristina Barcelona in 2009, was among others who were presenting the awards for the night.

ANGELINA JOLIE seemed to be mocked on stage by the screenwriters of “The Descendants” for her dramatic leg pose at the Oscars last night.

But Jim Rash and co-writers swear they didn’t!

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ROONEY MARA looked truly ethereal in her custom Givenchy gown as she strode on the red carpet of last night’s Oscar ceremony.

Check it out:

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Up for the Best Actress award for “The Girl With The Dragon Tattoo,” Rooney has been stunning the crowd lately with her slender picturesque frame, this time in a custom white chiffon and lace haute couture gown by Givenchy’s Riccardo Tisci with a plunging neckline and open back at one of the biggest nights in Hollywood this year. Even though she lost the award to Meryl Streep, she still made quite an impression at the Academy Awards.