Hollywood’s hottest strut their stuff at this year’s star-studded Oscar parties.

Jennifer Lopez turned heads on the Oscars red carpet in a plunging, silver Zuhair Murad gown, but the diva extraordinaire looked even better at the annual Vanity Fair afterparty in yet another revealing Murad masterpiece. Luckily — at the post-ceremony soiree — J.Lo didn’t suffer a second slip. Her first frock may have showcased a bit too much skin, but her encore ensemble was utter perfection.

Tom Cruise and wife Katie Holmes — who debuted a new, bang-enhanced ‘do — partied the night away with Victoria “Posh Spice” Beckham and her hubby, soccer star/underwear model, David.

Also photographed entering the Vanity Fair fete was former Disney darling, Miley Cyrus, who channeled Old Hollywood in a glamorous Roberto Cavalli gown, chandelier earrings, ruby-red lips, and a classic coif.

No, this isn’t a mugshot. Last year’s Oscar co-host James Franco just looked like a vagrant at the Mercedes-Benz viewing party at Soho House in West Hollywood, CA.

Victoria’s Secret model Alessandra Ambrosio and reality “star” Kourtney Kardashian showed off their growing baby bumps at Elton John’s yearly shindig.

Tennis aces Serena and Venus Williams (both in Christiane King) hung out with fellow sports superstar, Broncos quarterback Tim Tebow.

“SNL’s” Jason Sudeikis was caught canoodling with his lady love, “Tron” hottie Olivia Wilde. That’s one lucky man!

Steve Martin and Martin Short made a Gwyneth Paltrow sandwich, not that she eats sandwiches … or eats anything solid for that matter.

Golden Globe winner Claire Danes (“Homeland”) looked like a delicious snowcone in her strawberry-hued Valentino dress.

Katy Perry — whose tired blue hairdo has got to go — sparkled in Blumarine, while Dita Von Teese shimmered in Jenny Packham.

Michael Douglas and his proud papa, Kirk, arrived in style at the VF festivities.

Kim opted for a gothic look in Alaia. Her sister, Kourtney, went Grecian in a Raoul gown, and both Kardashians nearly disappeared standing next to the super sexy Heidi Klum, who put them both to shame in her Versace mini and Louboutin pumps.

David Furnish and Elton John accessorized with their son, baby Zachary.

Miley clung to her boy toy, Liam Hemsworth, as they sashayed their way into Elton’s event.

What do you make of the strapless white Roberto Cavalli gown “Modern Family” minx Sofia Vergara wore to the Vanity Fair party? Hot or not?

Nina Dobrev (in J. Mendel) and her “Vampire Diaries” co-star/boyfriend Ian Somerhalder (in Armani) easily made for one of the evening’s most stylish couples!

Best Actor winner, Jean Dujardin (“The Artist”), looked sleepy, happy, and quite possibly buzzed next to his new trophy.

Party girls Cameron Diaz (in Victoria Beckham) and Kate Hudson (in vintage Versace) looked like they were having more fun than any other celebs in attendance at the VF fete. Perhaps the open bar had something to do with that.

Comedian Chris Rock caught up with his pal, 85-year-old Oscar winner Sidney Poitier (“Lilies of the Field”), who looked sharp in his tux.

We’re not feeling Katie’s bangs or Natalie’s dress, are you?

We’ll look past Gwen Stefani’s questionable frock (“I’m walking into spiderwebs… “), but we can’t forgive her for the catastrophic coif she sported at the Elton John party.

We’re not sure why or how, but former “High School Musical” hotties Vanessa Hudgens and Ashley Tisdale somehow landed invites to Elton’s jamboree.

Is the bold color combo Rosario Dawson rocked working for you? We secretly love it.

Do you prefer the Giambattista Valli dress Emma Stone wore to the Oscars, or this one, which was designed by Chanel?

Gerard Bulter put his grubby paws on Jessica Chastain at the Vanity Fair party. She should know better than to mingle with the infamous ladies man.

Joan Collins looks great for 78, and Victoria Beckham looks grumpy for 37.

Brett Ratner was supposed to produce the 84th Academy Awards with Don Mischer, but was asked to step down after delivering disparaging remarks about gays and actress Olivia Munn. Why, then, would swimsuit model Kate Upton hang out with such a fool? Ick.

“Avatar” star Zoe Saldana channeled her inner “Dynasty” vixen in an ’80s-inspired Marios Schwab frock.

Busy Philipps was once again BFF Michelle Williams’ date for the evening. Love this dynamic duo!

“Transformers” star Rosie Huntington-Whiteley snuggled up to her man, action hero Jason Statham, at the bar.

Amy Adams looked terrified of Tim Tebow … and he looked either sunburned, embarrassed, or sauced.

Elizabeth Banks’ dress, designed by Chadwick Bell, was one of our absolute favorites. Thoughts?

Salma Hayek’s YSL dress was nothing to write home about. Her braid, however, was quite cute.

Elizabeth Olsen kept things relatively simple in an all-black ensemble from Christian Dior.

Also spotted in all-black was “Once Upon a Time” star Ginnifer Goodwin, who donned this fashion-forward getup.

Would you want to party with Miley and Kelly Osbourne?

Or, would you prefer to party with Zach Galifianakis, Rachael Harris, and Cheryl

“Modern Family’s” Julie Bowen got photobombed by Leslie Mann upon arriving at the VF party.

Bradley Cooper’s ‘stache … yay or nay?

Seth Rogen and Lauren Miller took advantage of the complimentary photo booth.

Ladies Night, featuring: Amy Adams, Jennifer Westfeldt, Claire Danes, and Paula Patton!

Natalie Portman and baby daddy Benjamin Millepied must have found a sitter for little Aleph, who was born back in June.

We didn’t think it was possible, but Shailene Woodley (“The Descendants”) looked even worse at the Vanity Fair party than she did on the Oscars red carpet.

From the neck up, Tina Fey looked better than ever thanks to a chic updo, but her Carolina Herrera gown was a bit baggy.

Do you think Tom instructs Katie to tilt her head in every picture in order for him to seem less petite?

Kate Beckinsale has never failed us … until last night in this seaweed-covered eyesore.

Gwyneth actually looked good next to Jane Fonda, whose dress was clearly inspired by the Ice Capades.

“Parks and Recreation” star Rashida Jones looked yummy in yellow. Mustard is one of this season’s hottest trends.

Cam changed into a Popsicle-hued Victoria Beckham-designed gown for the party circuit. Discuss!

Brooklyn Decker partied at Elton John’s soiree sans hubby, tennis star Andy Roddick, who was prepping for a tournament.

LOVE Patricia Clarkson. HATE her dress and shoe combo. So much.

Diane Kruger (“Inglourious Basterds”) vamped it up in a slinky red gown and high pony.

Chace Crawford could really use a new haircut. His suit, however, looked mighty fine.

Mary Steenburgen does not age! Her hubby, Ted Danson, does.

“227″ alum Regina King delivered some fierceness as she made her way into the star-studded Vanity Fair fete.

Can we all just agree that Jon Hamm and Jennifer Westfeldt are kinda the coolest couple in Hollywood? Because they are.

“Glee’s” Dianna Agron opted for a beachy, sun-kissed look for the Elton party, and it suited her well.

Agron’s co-stars, Ashley Fink and Chris Colfer, posed for this hilarious “candid” when photographers decided to invade their conversation.

Rachael Harris — who also looked lovely on the purple carpet at Saturday’s Independent Spirit Awards — delivered a second consecutive win, this time in vintage Lanvin.

Fran Drescher accessorized with her furry little friend, Pomeranian Ester.

Rachel Zoe looked alarmingly thin in a white maxi dress and faux fur wrap.

Abbie Cornish oozed elegance in a simple yet chic sheath and diamond accents.

Kate Bosworth usually looks like a hot mess on the red carpet, but we actually approve of this Prabal Gurung dress. Do you?

Rose McGowan flaunted her fab frame in a Paule Ka gown and unseen Sergio Rossi heels at Elton’s bash.

Yep, I’m showcasing the Williams sisters again. Why? Because I love them, and they had fun dressing in bold gowns, unlike so many of Hollywood’s uptight elitists.

Tiiiiiiiiiiiin roof, rusted.

What was Mena Suvari thinking?! It looks like she slathered herself in glue and rolled around in a pile of shredded Kleenex.

Minnie Driver reigned supreme in a champagne-colored gown and diamond baubles. Call us crazy, but we think she was one of the best-dressed beauties of the entire evening.

Emily Watson was all smiles upon arriving at the annual VF party in a black frock, curly ‘do, and layered necklaces.

Paz Vega outdressed Petra Nemcova at the Elton party. In fact, Vega outdressed nearly everyone who stepped foot in that fete.

Felicity Jones — who was robbed of an Oscar nom for her work in “Like Crazy” — dressed to impress in a fashionable Johanna Johnson dress and minimal makeup.

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