In 1929, the Academy of Motion Picture Arts and Sciences hands out its first awards, at a dinner party for around 250 people held in the Blossom Room of the Roosevelt Hotel in Hollywood, California.
The Academy officially began using the nickname Oscar for its awards in 1939; a popular but unconfirmed story about the source of the name holds that Academy executive director Margaret Herrick remarked that the statuette looked like her Uncle Oscar. Since 1942, the results of the secret ballot voting have been announced during the live-broadcast Academy Awards ceremony using the sealed-envelope system. The suspense–not to mention the red-carpet arrival of nominees and other stars wearing their most beautiful or outrageous evening wear–continues to draw international attention to the film industry’s biggest night of the year.
Check out 10 Most Awful Oscar Dresses Of All Time.
10 – Uma Thurman – 2004

09 – Whoopi Goldberg – 1993

08 – Cher – 1988

07 – Kim Basinger – 1990

06 – Demi Moore – 1989

05 – Faith Hill – 2002

04 – Geena Davis – 1992

03 – Gwyneth Paltrow – 2002

02 – Kate Hudson – 2001

01 – Björk Swan Dress – 2001

Source: Allwomenstalk