Keira Knightley and Michelle Williams move into fashion's big leagues on Oscar red carpet

There's a new young fashion star in Hollywood. Keira Knightley wore a striking wine-colored, one-shoulder gown by Vera Wang to the Oscars Sunday night that hit the right balance between youthful funkiness and movie-star glamour.\nKnightley wore her strawberry blond hair in a loose ponytail, and she complemented the dress with a one-of-a-kind necklace with emeralds, rubies and diamonds from the Bulgari archives and gold sandals with multiple ankle straps by Jimmy Choo.\nHer makeup artist, Kate Lee, said she wanted to create an "iconic and classic" look for the 20-year-old. Lee said she used steel and charcoal Chanel eye colors but otherwise used a light touch to reflect Knightley's young age.\nMichelle Williams went the screen siren route in a marigold yellow chiffon gown with tulle pleats surrounding the V neck, which allowed her to show off a 19th-century diamond fringe necklace from Fred Leighton. Her hair was swept up in a 1930s style, and on her arm was Heath Ledger in a classic bow-tie tuxedo, down to the white pocketsquare.\nReese Witherspoon and Ryan Phillipe looked like a superstar couple _ she wore a gown with rows of silver beads and he was dressed in a three-piece suit with a black tie.\nFelicity Huffman wore a supersexy black gown by Zac Posen with a plunging V neck, keyhole back, sheer panels on the side and pleated bodice and hem.\nFor Rachel Weisz, who is 7 months pregnant, comfort was important in picking her long, slinky black gown with cap sleeves _ which also showed off significant cleavage. "My friend Narciso Rodriguez made me three dresses and I chose one this morning," she said. Her Chopard emerald-cut diamond demi-drop earrings had round white diamond studs.\nJessica Alba, who was caught by the cameras touching up her Dior lipgloss, chose a tight gold Versace halter gown with floral beading that she said "fit like a glove," and Jane Seymour was in a champagne satin halter gown with jeweled accents on the bodice by Pamella Roland.\nSandra Bullock and Amy Adams both wore strapless dresses _ and both actresses said they picked their gowns because they had pockets. Bullock's navy gown was by Angel Sanchez and Adams' chocolate brown gown with ribbon applique was by Carolina Herrera. Adams even borrowed Herrera's own aquamarine dangling earrings.\nCharlize Theron's forest-green, handpainted gown with a giant bow on the shoulder was designed by John Galliano for Christian Dior. She said the leather silk satin fabric was "insane." Jennifer Lopez was in a lighter green gown with a fitted bodice that laced up in the back like a corset.\nZiyi Zhang picked a Giorgio Armani gown fresh off the runway: a black scalloped seashell-shaped lace bustier with jet beading worn with a gray Swarovski crystal encrusted full crinoline skirt. Hilary Swank was in a sweetheart-style black strapless gown by Versace.\nJennifer Aniston was in a black tank gown by Rochas with a long train and a vintage platinum-and-diamond Bulgari necklace from the 1930s. Makeup artist Angela Levin, calling Aniston "a sun-kissed angel," emphasized her eyelashes with a not-yet-available Chanel mascara.\nNicole Kidman was in a cream-colored strapless gown with beautiful delicate embroidery, and Naomi Watts wore a nude-colored, one-shoulder gown with frayed fabric on the top by Givenchy. As the model in jeweler David Yurman's new ads, Watts' rose quartz-and-diamond earrings and a rose quartz ring were made especially for her.\nJennifer Garner wore a halter-style, hand-embroidered Michael Kors gown in nude-colored tulle featuring Swarovski crystals and sterling silver flowers.\nJada Pinkett Smith was in a bright blue strapless column gown by Roberto Cavalli. "I just wanted to be a little vibrant and a little sexy on the carpet," she said. Husband Will Smith chimed in, "That's my wife in the dress. It becomes difficult to notice the dress itself."\nSalma Hayek had on a slate blue gown, and her hair was long and loose.\nOne of the biggest misses of the night was Helena Bonham Carter. Her off-the-shoulder, tea-length blue satin gown was fine but her bed-head hair and clunky white shoes were not.\nOscar.com fashion analyst Tom Julian was a fan of Meryl Streep's plum V-neck gown with long sleeves that she wore with dangling earrings. Julian also noted that the shape of the Oscar gowns shifted to full skirts from the more formfitting styles at the award shows earlier in the season.\nAs for the men, George Clooney was trying to be sarcastic when he told E!'s Isaac Mizrahi "I'm very stylish," but he indeed was in his Armani two-button peak lapel tuxedo.\nAnd the directors of "Wallace & Gromit: The Curse of the Were-Rabbit," Nick Park and Steve Box, wore oversized striped bow ties, which somehow seemed a perfect fit.\nThe Oscars were presented at the Kodak Theatre in Los Angeles.