Zoe Saldana, Mary Kate Olsen, Ashley Olsen

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The best part of awards shows isn't who wins or loses a statue, it's watching the celebs roll down that red carpet and getting to judge, judge, judge our little hearts out!

Behold, the fashion winners of Monday night's 2012 CFDA (that's Council of Fashion Designers of America) Fashion Awards.

First up is Avatar über-hottie Zoe Saldana in a custom Prabal Gurung peek-a-boo black gown with sheer panels and long sleeves. The 33-year-old beauty wisely chose an updo to further show off that plunging neckline, and we love how romantic and slinky the train is!

Then we saw double with a newly brunette Mary-Kate Olsen in a stunning black silk piece from her label The Row, a Sidney Garber layered necklace and Louis Vuitton suede peep-toes. The high-low hem is sooo much fun and the perfect accessory with that new vampy hair. Yowza!

And in a rare pop of color we have twin sister Ashley Olsen in a draped fuchsia short-sleeved dress from The Row, natch. Everything from the simple front draping to the metallic cuffs is a win.

Did we also mention that the sisters took home the 2012 Womenswear Designers of the Year award?

Of course, where there are winners there are also plenty of fashion losers...

Dakota Fanning, Kate Bosworth, Lily Collins

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You might immediately notice a pattern here or, rather, three very elaborate patterns crying into the fashion night to be burned!

Take child vampire Dakota Fanning, for example, in head-to-toe Proenza Schouler with a kimono-style dress and metallic clutch. While we appreciate Dakota finally putting her hair up—seriously, thank you!—the fit isn't at all flattering and even Goodwill would turn away those heavy black platforms!

Then we have wannabe gypsy Kate Bosworth and her Altuzarra print sarong dress with waist cutout and coin embellishments along the hips. It's like she gave a pair of scissors and a 70s tablecloth to some kindergarten kids and told them to go crazy. Only, Kate's the one who looks crazy.

Last but not least is Mirror Mirror star Lily Collins, who looks ready to be beamed up to her home planet in a Marchesa Fall 2012 dress with impossibly high collar, A-line skirt and gold eagle front embellishment. Seriously, we're starting to think this might be an episode of Punk'd.

If statues are more your thing, check out the full list of winners from the CFDA Fashion Awards here, and make sure to tell us what you think of the winners and losers below!

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