I mean, it's an homage to Gwyneth's Tom Ford Oscar Cape Gown of Great Amazingness, but it's an ATTRACTIVE homage.
And from the back, it looks less like a cape and more like....a sexy sling. Whatever you want to call it, it works.
i decided, from this photo, that I want her to run off with Jason Sudekis. Sure, Olivia Wilde might not appreciate this idea, but come on: they're adorable together, AND what a great scandal it would be! Who doesn't love a scandal?