Whether rocking a $35 frock or a myriad of designer duds, Michelle Obama‘s wardrobe choices always turn heads.

Last night’s State of the Union ensemble was no exception. As the President declared his intent to help buoy the 99 percent (“Asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense,” he declared), his wife dazzled in a cobalt sheath from Barbara Tfank’s resort collection.

While reps for the brand won’t reveal the item’s retail price, a similar style from the collection is currently available at Barneys New York for $2,400.

This isn’t the first time the First Lady has worn the Los Angeles-based designer’s sophisticated wares. Last year, she met with the Duke and Duchess of Cambridge wearing a seafoam brocade design topped with a bubblegum pink stole.

“Everything in my closet is something that I love,” Obama has said. “So that I can make choices based on what makes sense, knowing that I’m going to love whatever it is.”

–Justine Harman

EMULATE SIZZLING STAR STYLE IN: ‘GET THE LOOK FOR LESS’

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In only five years, Jason Wu has dressed a First Lady, been inducted into the CFDA and debuted a collection for Target, but that doesn’t mean he’s used to the lifestyle.

“A few years ago all I wanted to do was succeed in fashion,” he reveals on Wednesday’s premiere episode of Out of Character with Krista Smith on USA (airing at 11 p.m. EST). “I didn’t think my work would be in the museum,” he says of the inaugural gown he designed for Michelle Obama, which currently lives at the Smithsonian.

Though he never fathomed Obama would select his dress — and effectively change his life forever — Wu always designs with a person in mind. “I think it’s important to have a connection with the person you’re dressing,” he shares. “Fashion is so personal and I put a lot of me into everything that I do.”

To that end, the designer, who went from a 100-square-foot apartment (“a cabinet”) to a 9,000-square-foot studio in New York’s garment district, is still involved in every aspect of his ever-growing business. “I’m so hands on. I’m on my knees doing the fitting all the time, for every single fitting. I don’t want to miss any part of it, because that’s why I’m in this industry,” he gushes. “I wanted to do that.”

–Justine Harman

FEELING LUCKY? GUESS WHAT STARS WILL WEAR TO THIS YEAR’S GOLDEN GLOBES!

First Lady Michelle Obama may be a major fashion plate, but she’s not choosing her daily looks based on labels — it’s all about practicality.

Speaking to reporters Monday during a roundtable at the White House for her Let’s Move! campaign, Obama revealed her personal style motto. “I have to wear what I love,” she said. “I have to feel good in it. My day-to-day wardrobe choices are very practical. I’m like, ‘What’s the temperature?’ ‘Am I going to be sitting in the grass?’ ‘Will I be playing with kids?’ ‘Can I sit on the floor?’”

The First Lady explained that her key concerns are generally about her shirts bunching up or not covering enough of her back, because “if I bend over [I'm] worrying about that … embarrassing shot,” she joked.

And though she chooses her casual clothes — H&M, Gap, Talbots, Target (which she wore Monday, above) with a purpose — naturally, she also shops for what she really likes. “It’s like my music,” she explained. “Everything in my closet is something that I love, so that I can make choices based on what makes sense, knowing that I’m going to love whatever it is. I think that tends to be my philosophy.”

Obama said that with the focus off her clothes, she can focus instead on the people she’s with at any given event. “If I’m comfortable in what I have on, that’s second nature, and then all my attention can go to the people in the room that I’m with at the time, and I don’t have to worry about whether something is riding up or whether my feet hurt. I don’t want to waste anxiety on something as limited as clothes.”

However, when it comes time for major galas, the First Lady does think a bit more fashionably. “I try to be thoughtful about spreading the wealth: young designers,” she said. “Mixing things up is important to me.”

But at the end of the day, it’s about the personal impression she’s making on others, and not so much about her looks. “Ultimately, did they walk away feeling good and inspired, and maybe ready to think a little bit differently?” she said. “That’s what I’m hoping to do with the interactions I have.”

–Kate Hogan

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It’s been an exciting year for the Duchess of Cambridge: a royal wedding, a North American Tour and now, a spot on Vanity Fair‘s International Best-Dressed List. Her first appearance on the list came in 2008, and a whirlwind of fashion successes since has earned her this illustrious second nod. Kate has gained worldwide recognition for her signature mix of high and low fashion, recycling looks, wearing accessible labels and dressing down for daily tasks. Though she also knows how to make a glamorous entrance — a skill that will serve her well as a member of the royal family.

Some other highlights of the annual list include President Barack and First Lady Michelle Obama, named together as a well-dressed couple; expectant French First Lady Carla Bruni-Sarkozy; and newly married Princess Charlene of Monaco. From Hollywood’s royal ranks come actors Justin Timberlake, Colin Firth and Carey Mulligan, plus musicians like Lady Gaga and Janelle Monáe.

Visit vanityfair.com to read the full list. Tell us: Who do you think should have made the list?

–Caroline Slutsky
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Looks like the Duchess of Cambridge wasn’t the only one dressing up for the Obamas’ visit to London! Michelle Obama brought her signature colorful, feminine style to the British capital on Wednesday, dazzling in an array of elegant designs. After disembarking from Air Force One in a Preen dress and matching jacket the previous night, the First Lady met with Catherine and Prince William in a full-skirted, green Barbara Tfank dress topped with a cropped pink jacket. For time spent with Prime Minister David Cameron and his stylish wife Samantha Cameron, Mrs. Obama picked a magenta Roksanda Ilincic dress to go under her cobalt blue Narciso Rodriguez coat. She capped off the day with a truly dazzling look for a state banquet at Buckingham Palace, stepping out in an ivory Tom Ford halter gown with matching opera length gloves. There is still time left in the Obamas’ visit abroad, so we can’t wait to see what other beautiful looks the First Lady puts together.

SEE WHAT STARS ARE WEARING IN ‘LAST NIGHT’S LOOK: HIT OR MISS?”

She may be stylish, but the Duchess of Cambridge constantly proves that looking chic isn’t just for royalty. Catherine chose one of her go-to brands, British retailer Reiss, when she and new husband Prince William met with President Obama and First Lady Michelle Obama at Buckingham Palace, marking their first royal duty since their wedding on April 29. The “Shola” dress, a taupe-colored fitted frock that showed off her slim figure, retails for $340 and can be purchased on reissonline.com, although it’s sure to sell out quickly (UPDATE: Reiss’s webste is crashing due to the high volume of traffic today with more of the dresses going up online soon!). She accessorized her look with an Anya Hindmarch black clutch. And this wasn’t the first time the Duchess chose Reiss for a momentous occasion — she picked a cream-colored dress by the high street label to wear in her engagement photos several months before the royal wedding. Tell us: What do you think of the Duchess of Cambridge’s latest Reiss pick? –Kim Peiffer, with reporting by Monique Jessen

While life as the president’s daughter is probably pretty unique, there are some rites of passage every girl experiences, regardless of how famous her father is. For Malia Obama, right now it’s experimenting with makeup. During a joint appearance on The View Monday with Dr. Jill Biden, Michelle Obama said that her oldest daughter, who’s 12½, is just starting to use cosmetics. After the First Lady returned home from her whirlwind two-day, four-city military families tour, “Malia’s like, ‘Mom I need to talk to you,’” Michelle recalled. “And it was 10:30 [at night], and we talked, and we talked, and we talked. We talked about makeup, actually.” Though Michelle was fine with her little girl taking a grown-up step, she said hubby Barack didn’t appear to take it quite as easily. “He says he’s cool … but, you know …” she shared, laughing. “The first time Malia went out for a party … she had her hair done, and she’s tall, and she had on a pretty dress, you could see him, he was sort of like … ‘gulp.’ And I was like, ‘Easy, dad.’” Tell us: When did you start using makeup? –Kate Hogan

WEIGH IN ON HAIR AND MAKEUP IN ‘WOULD YOU WEAR THESE BEAUTY TRENDS?’

Which of Hollywood’s style stars got readers buzzing this week? Don’t miss our top stories (hint, it’s all about the hair!).

Michelle Obama is a staple of best-dressed lists, known for rocking everything from haute designers to H&M, but even the First Lady needs a helping hand shopping sometimes. ABC News reports that hairdresser Vera Chamberlin revealed to the Washington Post that her client Meredith Koop, a 29-year-old Vanderbilt University grad, has taken over the role of stylist to the First Lady from Chicago retailer Ikram Goldman. Koop, a former protegé of Goldman, was sent to the White House to help out with Obama’s fashion needs before taking over the role full time. A White House spokesperson identifies Koop as a “personal aide to the First Lady and a member of the White House Residence staff” with duties beyond the First Lady’s wardrobe. But as far as clothes are concerned, the White House said in an email to ABC News that Koop’s “responsibilities include advising the first lady on her wardrobe and acting on her behalf in arranging for purchases, including considering the best offered price, and buying on discount if discounts are available.” Sounds like a good gig to us!

CHECK OUT MICHELLE OBAMA’S TRAVEL STYLE!

Which of Hollywood’s style stars got readers buzzing this week? Check out our top stories!

–First Lady Michelle Obama proves that fashion can be budget-friendly in a $35 H&M dress. READ IT

–Natalie Portman hunts for an Oscar dress that will coordinate with her most important accessory–a growing baby bump. READ IT

–Julianne Hough walks a New York fashion week runway in a custom Swarovski crystal design. READ IT

–Lindsay Lohan creates controversy by heading to court in a curve-hugging minidress. READ IT

–Katy Perry turns heads by rocking three sparkly, purple dresses–in one day. READ IT

Michelle Obama is often lauded for her approachable fashion sense that mixes high-end designers with recognizable mall favorites like J.Crew. And earlier this week, the First Lady made an appearance on NBC’s Today Show outfitted in a $34.95 dress from none other than H&M! Never shying away from bold colors, Mrs. Obama gave her navy-and-white print a personal touch by adding an orange obi-style belt and pairing it with bright yellow pumps. And while she has an affinity for arm-baring styles, her stylist took a different approach with this ruffle-front dress, customizing it by adding sleeves. The original sleeveless version, which also comes in melon pink, is part of the affordable retailer’s current collection in stores now. – Hana Choi

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What’s old is new again for Michelle Obama, who had another groundbreaking moment in fashion history Sunday night, dazzling in one-of-a-kind vintage number by the late designer Norman Norell. The First Lady picked up the black-lace overlay dress, which boasted a full tea-length tulle style skirt and a square neckline (something rarely seen in contemporary designs), at New York Vintage boutique, signaling what store owner Jon Schneck believes to be the first time a first lady has worn a vintage dress to a public event, reports The Huffington Post. Obama donned the elegant 1950s piece to the “Christmas in Washington” concert in Washington, D.C., which airs tonight on TNT and is hosted by Ellen DeGeneres. And while the spectacle, which will feature performances by Mariah Carey, Annie Lennox and more, will surely be packed with flare, we’re sure no one sparkled as brightly as Obama, who glammed up her ballerina-like confection with oversized snowflake drop earrings. And if you like what you see, stay tuned for other throwback looks from the First Lady. The The Huffington Post reports that Schneck confirmed that Obama scooped up additional archived pieces from New York Vintage for future appearances. Saying, “We are truly honored that the First Lady has chosen a gown from New York Vintage as her first venture into vintage couture. Other dresses from our archive have been scheduled for use by the first lady later this year.” To see Obama don the dazzling dress, tune in to the holiday special tonight on TNT at 8 p.m./7 p.m. Central. –Justine Harman

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Michelle Obama may have a closet full of looks from Jason Wu, Narciso Rodriguez and J.Crew, but when it comes to jewelry, Brooklyn-bred designer Alexis Bittar has the First Lady’s undivided attention. Over the course of a month, Obama has been spotted all over the globe in a variety of baubles from the jeweler, whose preferred working materials include lucite and semi-precious stones. For an appearance on Barbara Walters’ Thanksgiving Day special, the First Lady punched up an all-black ensemble with an Alexis Bittar poppy pin. In the following two weeks, her admiration was in full bloom, selecting the jeweler’s $395 flower pin while on a Presidential trip to India and then again at an awards ceremony in Washington, D.C.! Soon thereafter, the style chameleon demonstrated her versatility with three other Bittar selections, donning a playful hand carved bee brooch on Halloween, a triple strand pearl necklace and then lucite domed button clip earrings while abroad in India. And though Bittar has a fashion pedigree—he was the 2010 CFDA recipient of “Accessory Designer of the Year”—his designs don’t have to break the bank, with pieces starting at just $95 at alexisbittar.com. – Justine Harman

SHOP MORE CELEB-LOVED ITEMS IN OUR HOLIDAY GIFT GUIDE: STAR FAVORITES

Olivier Douliery/Landov

What’s better than getting your hands on some of the hottest looks off the red carpet? Doing it for a good cause! For a limited time, shoppers will have a chance to scoop up designer pieces from celebrity stylist Mary Alice Stephenson’s own closet. She’s teaming up with e-tailer I-ELLA.com for an exclusive Celebrity Closet auction to benefit Free Arts NYC, an organization that offers low-income kids and families educational and mentoring programs. And in addition to Mary’s own stylish clothing, there will be a handful of pieces worn by fashionable stars up for grabs. Among the coveted selection: a one-shouldered Naeem Khan sparkler worn by Brooke Shields, a sexy Gucci frock worn by Tyra Banks, and an elegant LBD with lace paneling from First Lady favorite, Jason Wu. The Mary Alice Stephenson I-Ella auction is only live until Nov. 19, so head over to I-ELLA.com now for your chance to dress like a star! –Hana Choi

VOTE ON ALL THE STARS’ LATEST STYLES IN LAST NIGHT’S LOOK: HIT OR MISS!

Jason Wu’s frothy, feminine dresses are fit for the First Lady so it’s no surprise that the designer is introducing a capsule collection for fashion-forward brides. Wu has created five ivory dresses, ranging in price from $795 to $4,000, that are set to launch exclusively at net-a-porter.com in January, reports WWD. Describing the looks as “both youthful and injected with elements of American sportswear,” the designer tells the publication that while he designed with the altar-bound in mind, the versatile pieces can be worn for a variety of occasions. And judging from the sketches, the chic offerings embody the best of Jason Wu. From ornate beading to structured silhouettes and on-trend bows and feathers, there’s a little something for everyone. It look like dreams do come Wu! –Justine Harman

John Shearer/WireImage; Jason Reed/Landov; Mike Marsland/WireImage

What do Lady Gaga, Michelle Obama and Carey Mulligan have in common when it comes to fashion? By the looks of it, not much! But according to Vanity Fair, these three ladies have all earned a coveted spot on the magazine’s annual International Best Dressed List for their individual taste—not, as one might expect, for their ability to follow fashion trends. Lady Gaga earned her way onto the list for the first time this year for her outlandish headwear and jaw-dropping ensembles. The First Lady, who topped the list with her husband last year, makes the cut in 2010 for her revival of All-American style. And new-comer Carey Mulligan rightly falls into place on the prestigious list for her “existential pixie” look and love of high-fashion labels like Lanvin and Miu Miu. Also earning a place on the 2010 list? Diane Kruger, Maggie and Jake Gyllenhaal, David Beckham and France’s First Lady Carla Bruni-Sarkozy. To see Vanity Fair‘s complete International Best Dressed List of 2010 visit vanityfair.com. Tell us: Do you agree with their choices? Who do you think should have made their list?–Andrea DeSimone

Courtesy Vanity Fair

Kevin Mazur/WireImage

Oprah Winfrey apparently knows a good investment when she sees one–and in this case, she saw it on Michelle Obama. Yesterday, while hosting J.Crew’s Creative Director Jenna Lyons on a special “Dream Jobs” episode of her show, WWD reports, the media mogul admitted that after first seeing Mrs. O dressed in the affordable J.Crew cardigan, sweater and skirt ensemble she wore on The Tonight Show with Jay Leno in October 2008, she actually became an investor in the company. “The very first time I saw the First Lady, even before she became the First Lady, wearing J. Crew–full disclosure here–I went and bought some J.Crew stock,” admitted Oprah. The host also hinted that putting her money on Michelle’s mix-it-up, high-low look was indeed a lucrative bet, saying, “And that [investment] was a very good decision.” – Marissa Patlingrao Cooley

Olivier Douliery/Abaca

While many designers dreamed of creating Michelle Obama‘s inaugural gown, it was young Jason Wu who nabbed the honor with his one-of-a-kind one shoulder ivory gown with delicate floral details. And today, the 27-year old designer stood next to the stylish First Lady, in a Prabal Gurung sheath, as his handiwork was donated to the Smithsonian to be a part of “The First Ladies at the Smithsonian” exhibit. Mrs. Obama praised Wu’s work as being “a masterpiece. It is simple, it’s elegant, and it comes from this brilliant young mind, someone who is living the American Dream.” And as for seeing her gown be a part of a museum exhibit, the First Lady admitted to being just a little flustered by the attention to her wardrobe. “And I have to say, to be honest, I am very honored and very humbled, but I have to say that I’m also a little embarrassed by all the fuss being made over my dress. Like many of you, I’m not used to people wanting to put things I’ve worn on display. So, all of this is a little odd, so forgive me.” But, she continued eloquently, “But, at the same time, I truly recognize the significance of this day. This gown –- and all of the items that we’ll see in this wonderful exhibit –- help us connect with a moment in history in a very real way.” And she explained that she felt connected to that historical day in her own life just by looking at her dress — for the first time since she took it off! “When I look at my gown –- which I, in fact, have not seen since the day that I took it off –- memories of that moment truly come rushing back.” And a thrilling moment it was, as she explained, “I’ll never forget the moment that I slipped on this beautiful gown. I remember how just luscious I felt as the President and I were announced onto the stage for the first of many dances. And I’ll cherish that moment for the rest of my life.” The new gallery in the “The First Ladies at the Smithsonian” exhibit, “A First Lady’s Debut,” opens to the public March 10. Get more details at americanhistory.si.edu and see a behind-the-scenes video here.

Designer Isaac Mizrahi stepped in front of the camera to document his glee upon seeing the First Lady Michelle Obama turn up in a silk long sleeved dress of his design at last night’s State of the Union address, posting a video blog today on his website, isaacmizrahiny.com. “Let’s see, what should I blog about today?” he teased. “I got it! Why don’t I talk about how exquisitely beautiful Michelle Obama looked last night at the State of the Union address?” The Manhattan-based clothier also proclaimed the First Lady’s new, sleek bob “divine” and went on to note the political significance of Mrs. Obama’s plum-hued shift: “It was like the politics of the clothes. Not left, not right, it was kind of like a bipartisan dress. George Stephanopoulos said how interesting it was that she was in a kind of purple-y color which is a blend of red and blue.” Mizrahi can hardly rein in his excitement, revealing, “I go swimming every morning and I managed to casually bring up the State of the Union address about seventeen times, and Mrs. Obama about eighteen times,” he joked. “The whole gym was just abuzz with the news!” To see more of Isaac’s video blog and daily lifestyle series, go to watchisaac.com. – Emily Hsieh