Hits and misses from Oscar’s red carpet

Sunday was not only the biggest night in the film industry but also one of the biggest in the fashion industry.

The world's eyes were on the 2010 Academy Awards' red carpet Sunday evening. Littered with movie stars and famed directors, the carpet was a display of both the best and worst in formal fashion.

Anna Kendrick and Carey Mulligan, two of the younger actresses nominated at this year's awards, both wore gowns that brought on mixed feelings, appearing elegant and age-appropriate before showing off something totally off-base.

Kendrick picked a soft pink Elie Saab Couture gown that lost points because of a poorly matched lace fabric peeking out around her legs, and Mulligan's structured black Prada gown brought the whack with forks, knives, scissors and charms embellishing the front of her dress.

Another actress whose dress caused some head-scratching was Charlize Theron. Her lavender gown could have been elegant if not for the detailing on the chest that looked as though a giant rose was pasted on to each of Theron's breasts.

Zoe Saldana failed to impress in a couture gown from Givenchy with a purple ombre design. The structured skirt was unflattering on her small frame, and the sparkly bodice looked like it came from a different dress.

For all the bad, there were some knockouts.

Vera Farmiga's fuchsia Marchesa gown was so extravagant, it almost wore her. The ruffling could have been too much, but Farmiga pulled it off with simple accessories and swept back hair.

Elizabeth Banks let her dress take center stage, as well. She paired a simple clutch and earrings with her strapless Versace gown, which featured a structured bodice and a layered chiffon train.

Best actress nominee Sandra Bullock also impressed, despite having a visible bra. She shined – literally – in a metallic and lace Marchesa gown that matched the gold statuettes given to the winners.

Of course, the red carpet is not just a woman's chance to look stunning.

Jake Gyllenhaal paired a crisp suit with a classic white pocket square and an old Hollywood-esque bowtie but avoided looking too perfect by sporting a little scruff on his face. Aside from the weird comb-over hairdo he had, George Clooney looked pretty debonair, too.

One presenter with a leg up on his peers was Tom Ford, director of "A Simple Man" and established fashion designer. Ford walked the red carpet in one of his own suits and looked classically stunning.

Although the night is over, the fashion discussion will continue. Those who missed last night's show can catch up on the hits and misses with E!'s "Fashion Police," airing tonight at 10.