What? Penelope was a vision in oxblood (grim name for this season's most fashionable colour) at the Campari 2013 calendar launch party. Announced as the face of the renowned calendar back in July, Penelope had heads turning as she strutted the red carpet in the floor-length Armani Prive gown. Hollywood glamour personified, Penelope paired her dress with a classic updo and a smokey eye.
Verdict? After being named as the new face of Loewe's Spring/Summer 2013 campaign it seems as though this shining star can do no wrong when it comes to sophisticated style. We love!
So Penelope's wowed us but what about those who've made epic fashion fails? Check out the gallery below to see the worst red carpet looks.